HMRC has recently released details of its latest campaign which has been termed the ‘My tax return catch up plan’. Being similar to last year’s tax return initiative, it encourages late self assessment filers to get up to date.
If you are behind with your affairs and wish to take advantage of this latest campaign, you will need to:
- Tell HMRC that you want to join;
- Complete and submit all your outstanding returns; and
- Pay what you or if you are lucky, claim the repayment you are owed.
I am behind but why should I take part?
If you are behind with your tax returns then you will be incurring penalties. If you take part in the campaign then you will increase your chances of obtaining a reduced penalty. By getting up to date you also avoid receiving an estimate of the tax you owe together with the associated telephone calls and court visits.
If you owe a significant amount in tax you may be able to spread the payments on agreement with HMRC.
HMRC has created a dedicated helpline on 0845 601 8818 which is open Monday to Friday 9am to 5pm.
How to take part
If you wish to take part, you will need to tell HMRC by completing a notification form. More details on the HMRC website.
Once you have made the notification, you will need to complete and submit your returns by15 October 2013.
Details of other campaigns can be found on our website. If you need any assistance with your tax affairs then please do contact us for a free initial consultation.
