Penalties for late submission of a tax return?

Penalties for late submission of a tax return?
As you know, all self-assessment tax returns for 2016/17 must be submitted by Midnight Tuesday 31st January 2017.  This is also the same deadline for paying the tax that you owe.
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Self-assessment tax return 2016/17

Self-assessment tax return 2016/17
We are heading into the time of year that most businesses hate. The deadline for self-assessment tax return 2016/17 submission is Midnight Tuesday 31st January 2017.  This deadline is for online submissions only as you should have submitted your paper tax return by Midnight 31st October 2016.
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