Low-Income Self-Employed Workers Face Higher Tax Penalties

Recent data from HM Revenue and Customs (HMRC) reveals that self-employed workers with lower incomes are significantly more likely to incur automatic £100 fines for late tax return submissions. Approximately 5.9% of those earning below the basic rate threshold missed the January 31 deadline, compared to only 3.1% of basic rate taxpayers and even fewer among higher earners.

The disparity in late filings highlights a broader issue of financial literacy and access to re

Sources
gbnews.com