Didnt pay CGT on time

[olivia]

I am preparing Income Tax return for 2006 a year in which we had a capital gain the tax on which is approx 40 k. I had assumed (wrongly) that the payment and return were both due by 31 Oct and now find to my horror that the payment was due by 31 Jan. This is a genuine oversight (though I am sure the RC is well used to hearing that one). What is my best course of action now?

 

[Nige]

Get the money and your return in and wait for the Revenue to raise an assessment for the interest. The interest is simple interest (rather than cumulative) so there is no advantage in paying the interest early.