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- HMRC Tax Return Initiative launched for people who have late tax returns

Published by Guy Baragwanath in Latest Revenue News · 6/7/2012 11:05:29
Tags: taxreturninitiativelatetaxreturn

Do you have a Self Assessment tax return or notice to complete a tax return for 2009-10 or earlier and haven't filed it yet?

If you do, HMRC are offering a quick & straight forward way to bring your tax affairs up to date called the Tax Return Initiative.

To take part in the Tax Return Initiative you need to tell HMRC that you intend to do so. You then need to complete & submit your late tax return(s) and pay the tax that you owe (or claim any repayment the might be due) by 2 October 2012.

The benefit of the campaign is that HMRC will give the best terms on offer in terms of penalties due to late submission of tax returns.
You will have received fixed penalty notices for late tax return submission of £100 when a return was late, and a further £100 when the return was 6 months late. Interest and surcharges are also payable on any tax paid.
HMRC can charge a penalty based on the amount owed (as much as 100% of the tax), but by coming forward, HMRC may well waive the additional penalty.


If you are behind with your tax returns, we can register you for the Tax Return Initiative and help you get up to date with your tax affairs by completing and filing your tax returns on your behalf. If you would like more information about our services, please contact us.


How to contact HMRC that you want to take part:
- ask your agent (accountant) to complete the form
- complete the notification form online yourself http://www.hmrc.gov.uk/campaigns/tri-form.pdf
OR
- complete the form and post to:
HM Revenue & Customs
Tax Return Initiative Team
Holland House
20 Oxford Road
Bournemouth
Dorset
BH8 8DZ

What do I do next?
Once registered, you have until 2 October 2012 to file your late tax returns.
The tax due (and National Insurance contributions that you owe) will also need to be paid by this date too.
If you are struggling with payment, contact the Tax Return Initiative Helpline on 0845 601 8818 and they may be able to set up a payment plan to spread the payments.


HMRC have produced as pdf explaining in more detail the Tax Return Initiative and the steps you need to take http://www.hmrc.gov.uk/campaigns/tri-guide.pdf



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