Another day, another amnesty from HMRC.
The latest is the Tax Return Imitative – a opportunity for anyone who owes tax at Higher Rate but hasn’t paid it at source – for example if you are a 40% or 50% taxpayer, and have investment income or rental income but haven’t submitted a tax return.
People have until 2 October 2012 to take part, including notifying HMRC, submitting returns and paying tax. As a carrot there is the offer of “best terms” on penalties and time to pay.
If this is a concern to you, or your conscience has been pricked, please get in touch to discuss.