Treat tax return like exam paper, says PwC
With the 30 September deadline looming for submission of self-assessment tax returns, and the threat of a £60 per day fine now a reality, PwC advises taxpayers to get their heads of out of the sand.
Link: Revenue gets tough with self-assessment fine
John Whiting, tax partner at the firm, said: ‘Dust off your Revenue form, dig out the relevant paperwork, and put aside some proper time in your diary. Don’t be an ostrich – your tax return isn’t going to go away!’
Whiting advises tax payers to treat their return form like an exam paper, ‘one that you have to achieve 100% in’.
Questions should be read carefully and answers should be given that the Revenue needs, not the ones the taxpayer would like them to have. Last year’s return should be used as a reference and starting point.
Taxpayers should ensure that everything adds up and makes sense and if there is a problem, they should call the Revenue hotline or speak to a tax adviser.