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flag UK introduces penalty points for late tax filings, fining £200 after two missed annual or four quarterly deadlines.

flag The UK's HMRC has launched a penalty points system for tax filers under the Making Tax Digital initiative, replacing automatic £100 fines for missed self-assessment deadlines. flag Taxpayers earn one point per missed deadline, with a £200 fine triggered after two missed annual deadlines or four missed quarterly deadlines within two years. flag The system, tested with 100 taxpayers, aims to promote timely filings with a more flexible penalty structure.

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