A quite alarming statistic from the weekend papers my first blog post , but definitely one that needs to be highlighted !
Tax inspectors have been trying to fine up to one million innocent people hundreds of pounds each for late tax returns. HM Revenue Customs are quoted stating that 963,000 taxpayers were found to be unnecessarily registered for self-assessment (SA) in the past two years. They have now been taken out of the system altogether.
None of the taxpayers had been required to put in Self Assessment tax returns for three years yet were still being chase for late filing penalties. The number of people affected represents one in 11 of the UK’s 11 million people who are registered to pay tax in this way every year.
If you have been affected by this and feel you should not be filing Self Assessment , don’t “bury your head in the sand” , feel free to contact TMA Accountants.
We can help deal with incorrect fines imposed, late tax return filing, incorrect late penalties, penalty interest, incorrect HMRC determinations and many others !