Taxpayers who have failed to submit tax returns, previously requested by HMRC, have been offered the opportunity to catch up and settle their arrears.
Under the terms of “My tax return catch up”, taxpayers, who have not yet submitted a self-assessment tax return that has been sent to them or requested by HMRC for any year up to 2011/12, are able to do so and mitigate any late filing penalties.
To take advantage of this amnesty you have until 15 October 2013 to complete the following three steps:
1. Tell HMRC you wish to take part
2. Complete the outstanding returns, either online or by paper.
3. Pay the resulting tax and National Insurance
Any returns that remain outstanding after this amnesty may incur penalties of up to 100% of the unpaid tax. In addition HMRC may take legal action for late submission.
If you require any further information on this or assistance with your tax returns in general please contact Christine Wallwork (christine@in-accountancy.co.uk) on 0161 975 6685.
