Reduced penalty and statutory interest for settling a late tax payment
Estimate for the voluntary settlement of omitted or late tax payments (form F24). The base penalty depends on the due date: 25% for breaches from 1 September 2024 (12.5% within 90 days), 30% for earlier ones (15% within 90 days); the voluntary-settlement reduction is applied to it. Statutory interest is calculated day by day at each year's rate (1.60% in 2026). This tool is for information only and does not replace an accountant; for tax-return liabilities the annual bands run from the return itself.