HMRC gives late tax return offenders a chance to catch up
Save on Self Assessment fines by taking advantage of HMRC's latest campaign offering those who have outstanding tax returns a chance to catch up under more favourable terms.
My Tax Return Catch Up is the latest campaign from HMRC offering those who have outstanding tax returns, from previous years, a chance to catch up under more favourable terms.
As our recent article on just how much a late Self Assesment tax return can cost you shows, being late with a return can be a costly mistake. Being one year late with your self assessment return can cost you up to £1,600, even if there was no tax owing! Until October the 15th HMRC are offering those who have outstanding returns and tax owing a chance to submit them, while incurring minimum penalties.
To participate you need to notify HMRC that you wish to take advantage of the scheme. Then you complete your tax returns and pay tax owing before the 15th of October.
Tax returns for years 2009-10 onward can be submitted online. If you wish to make a return for earlier tax years you will have to do so through paper returns.
If paying what you owe all in one go is beyond your means at the moment, HMRC may find a way to spread your tax debt over a series of payments.
HMRC have set up a dedicated Helpline on 0845 601 8818, (0044 1202 585395 from outside the UK). Lines are open Monday to Friday 9.00am to 5.00pm.
If, however, your tax affairs are already under investigation by HMRC, you cannot partake in this scheme.
See HMRC for more information on My Tax Return Catch Up.