Hang on Bozo. You forgot about the further penalty. £10.00 per day from 1 May for up to 90 days.
After that, they get serious..
(My mate forgot all about it last year, ignored it all and later that year was sent a cheque for over £500 against a return he'd not bothered to send in and would be paying a few grand on. He is laughing, so he says, but I muttered something about the sword of Damocles....)