Revenue is not 'hunting down undelivered tax forms'
The Inland Revenue has rubbished claims by a leading accounting firm that it aims to raise an extra £50m by hunting down taxpayers whose self-assessment forms have been incorrectly addressed.
The Inland Revenue has rubbished claims by a leading accounting firm that it aims to raise an extra £50m by hunting down taxpayers whose self-assessment forms have been incorrectly addressed.
Link: Revenue should write off overpayments: Tories
In a statement released this week, accounting firm Wilkins Kennedy warned that up to 35,000 tax payers could be liable for large fines, tax and interest charges if their tax forms failed to arrive because of an incorrect address. It is estimated that 500,000 self-assessment forms are undelivered.
Peter Goodman, head of tax, at Wilkins Kennedy, said: ‘The majority of these incorrectly addressed forms will be the result of people moving house and not telling the Revenue. When this happens individuals may accumulate fines and interest on unpaid tax up until returns are filed, a process that could take months or even years.’
Revenue spokesman Beryl St. James, however, said this was ‘absolute rot’ and emphasised that Revenue was not going to crackdown on undelivered forms any more than it normally would.
‘If a self-assessment form, or any form for that matter, is undelivered because of an incorrect address, each case will be looked at individually. Returns can be undelivered because of a death or prison sentence,’ said St. James.
‘Only if a tax return is undelivered and serious fraud or avoidance is suspected, will fines and other penalties be considered.’
The numbers you crunch tell a story. Your expertis...
19yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe upcoming tax changes in 2024 will significantly impact businesses and individuals in the UK. Accountants play a crucial role in helping clients na...
View articleUHY Hacker Young and audit engagement partner Martin Jones face fines of more than £300,00 following Laura Ashley audit breaches. Read More...
View articleIt is hard to argue that the Taxes Management Act 1970 (TMA), wouldn’t benefit from some substantial updating. It came into force back in the mists of...
View articleMorton became Tax Director of the Office of Tax Simplification, an independent office of HM Treasury, in 2017 Read More...
View articleThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View articleThe Upper Tribunal has rejected an appeal from HMRC in a case relating to the taxation of termination payments made to football player employees of To...
View articleThe revised guidance sets out the circumstances under which trustees need to disclose the identities of beneficiaries to HMRC Read More...
View articleAlthough the concept of a £1,000 tax-free allowance sounds very simple, there are a number of complexities of which taxpayers and advisers need to be ...
View article