In latest initiative, HMRC are offering taxpayers the opportunity to bring their tax affairs up to date. The campaign – My Tax Return Catch Up – is aimed at those who were sent a Self Assessment notice to file a return for any year up to 2011/12 tax year and have yet to do so.
Those wishing to take part should register with HMRC and they will then be required to file all outstanding tax returns by 15 October 2013. Payment in respect of all previously undeclared tax and National Insurance contributions should also be made by this date. HMRC will be prepared to discuss payment arrangements where these are considered appropriate.
HMRC are promoting the benefits of using the initiative as a quick and straightforward way in which to bring all tax affairs up to date. In more serious cases, HMRC may seek to charge a tax geared penalty, and by taking advantage of this campaign the penalty will be much less than if HMRC were to prompt the taxpayer into filing any late returns. Furthermore, those taking part are able to make use of a dedicated helpline rather than the general Self Assessment contact number.
If you would you like more information regarding this initiative then please contact TaxDesk on 0845 4900509 and ask for Isobel Clift.