HMRC deadline looms for top rate SA taxpayers
3 Sep 2012
3 Sep 2012
Thousands of higher rate taxpayers that have failed to submit Self Assessment tax returns are about to receive a letter from HMRC reminding them that they have less than three weeks to get their affairs in order.
People have until 2 October to tell HMRC they want to take part in the Tax Return Initiative - aimed at those liable to pay tax at rates of 40% and above, and who have been told to submit a SA tax return for 2009/10 or earlier.
Anyone failing to do so by the deadline could face stiff penalties of up to 100% of the tax due and criminal investigation.
Marian Wilson, head of HMRC campaigns, said: 'If HMRC has sent you a Self Assessment tax return or notice to complete a tax return for 2009/10 or earlier and you have not yet taken any action, this campaign offers you a quick and straightforward way to bring your tax affairs up to date. But time is running out. 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.'
Eligible taxpayers can register for the Tax Return Initiative at HMRC