HMRC have introduced a Tax Return initiative to bring your tax affairs up to date where a Self Assessment tax return or notice was sent for 2009/10 or earlier and you have not yet submitted the tax return(s) HMRC guide to tax return initiative. 

In order to take part in the Tax Return initiative then you need to tell HMRC that you intend to do so. This can be done by completing an online form and sending it to HMRC either electronically or by post - tax return initiative form.  

You will need to complete and submit the late tax return(s) and pay the tax and National Insurance contributions owed (or claim any tax repayment that is due) before 2 October 2012. 

If you cannot afford to pay the full amount owed then HMRC may agree in some circumstances for you to spread the payments and there is a Tax Return Initiative helpline 0845 601 8818 that you can call for assistance in these matters. 

HMRC can charge a penalty up to 100% of the tax and NIC owed if a failure to file a return continues for more than 12 months.  HMRC will offer the best terms available  and by taking part in this campaign  HMRC  expects that most will not have to pay this penalty. 

The fixed penalties (£100 for these years and further £100 if still outstanding 6 months later) and any daily penalties that have been imposed will be unaffected by this campaign and interest and surcharges on tax paid late will still remain payable. 

HMRC is reviewing its records and identifying individuals who have failed to comply with obligations to submit their tax returns therefore where individuals do not take advantage of this opportunity then tax geared penalties will be charged and HMRC may also consider criminal investigation. 

Please contact us  if you require any assistance in bringing your tax affairs up to date.