"This arrangement does not prevent or cancel the recording of Defaults [sic] Surcharge liabilities or Further Interest charges, which must be paid as and when they are notified." 25. It is clear, therefore, that the letter of23 June 2004 did not agree to waive any liability for default surcharges which had accrued. 26. A further deferment agreement was reached after a meeting in London between HMRC and representatives of the appellant's parent group on7 July 2005 . The agreement did not relate to a specific period but referred to various outstanding balances for three group companies, including the appellant. The outstanding balances referred but only to tax, and not to "any interest, surcharges etc."
"COLCHESTER (SOUTHEND LBO 099)18 FEB 2004 "
"VCU (35) 21424 FEB 2004 ."
"VOPS (VCU) VALID 9130 APR 2004 ."
"VOPS (VCU) VALID 18001 FEB 2005 ."
"VOPS (VCU) VALID 18001 FEB 2005 ."
"BANK VALID 17307 AUG 2006 ."
" This, as we see it, is a reflection of the aim of the legislation which, as we have explained, is to ensure compliance with the obligation to file and pay by the due date. The issue is not, in our view, whether the absence of a different treatment depending on the extent of the delay in filing the return undermines the system; the issue is whether the amount of the penalty is proportionate to the breach of duty in being a single day late. At the level of the scheme viewed as a whole, a penalty which is incurred as the result of a particular failure is entirely acceptable and compliant with the principle of proportionality provided that the amount of the penalty for that failure (however innocent its cause) is itself proportionate to the failure. At the level of the individual taxpayer, the question is not whether it would be a more coherent regime to have sequential penalties as time passes without the default having been remedied. Rather it is whether the amount of the penalty for the failure to file and pay by the due date is proportionate. If it is of an appropriate amount, then there is no need for a power to mitigate." 47. The Upper Tribunal also considered whether potential hardship to a trader was a factor to be taken into account. In particular, the amount the surcharge was not related to profitability. The Tribunal said at [90]: "