Calculation of interest on HMRC penalties

Calculation of interest on HMRC penalties – An Overview

In the name of Allah, The Beneficent, The Merciful

First Published: 28th February 2018 Last Updated: 20th July 2018

This summary discusses the calculation of interest of Interest on HMRC penalties, and is an overview of a research paper which can be downloaded here.

Highlighted within this paper are narrations concerning the livelihood of the Prophets and Caliphs, who trained in particular crafts and ate from the toils of their own labour. Also emphasised is the historical attitude towards relying on the state for an income: examples are cited where Prophets and Caliphs in public service posts disliked the taking of income from public funds and preferred instead to rely on independent earning.

The main aim of the paper is to guide our attention towards the key principles of working hard for oneself and that relying on state help should be an exception rather than a norm. The paper concludes by addressing the issue of the current financial situation in Britain where accepting employment leaves individuals worse off financially than if they were to accept state benefits.