HM Revenue & Customs (HMRC) is offering you a quick and straight forward way to bring your tax affairs up to date. As part of the “My Tax Return Catch Up” campaign, all taxpayers who’ve failed to complete their tax returns under the Self Assessment requirements for the 2011/12 tax year have a limited window to file outstanding tax returns and pay tax on any under declared income or gains.
HMRC will be writing directly to the several thousand people it has identified using Connect, the organisation’s intelligence-gathering software, and will follow up with calls to many of them.
How does this benefit you?
By taking part in this campaign you can:
If you have not submitted your returns and paid the tax due by 15 October, then you could end up paying penalties of 100% of the tax owed or even face criminal charges.
To take part in My Tax Return Catch Up there are three easy steps:
Self Assessment taxpayers who have yet to file a return for the 2011/12 tax year are already on the verge of hitting the next level of HMRC filing penalties. Those affected should register their intention to take part in the campaign as soon as possible. If you cannot afford to pay what you owe all at once don’t worry. If your circumstances warrant it, you will be able to spread the payments. By taking part you will receive the best terms available.