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HMRC's Tax Return Initiative

09.07.12

If you have any unpaid tax bills from the 2009/10 tax year (or earlier), HMRC are offering you the chance to vastly reduce any fines in a new campaign entitled the ‘Tax Return Initiative’.

Aimed mainly at 40% rate tax payers, the scheme has been set up to give those who were late completing their Self Assessment tax returns a chance to minimise the resultant charges.

If this concerns you, you have until October 2^nd 2012 to inform HMRC that you wish to take advantage of the scheme, submit your tax return(s) and finally pay any outstanding tax. HMRC make it clear that by letting them know you wish to take part will work out financially cheaper than if HMRC have to chase you. Exceptional cases may also result in criminal investigation.

Head of HMRC Campaigners, Marian Wilson, told the HMRC website:

“This campaign is part of a wider HMRC initiative to provide support and guidance to the public on tax obligations and is aimed at people who fail to submit their tax returns on time and pay what they owe.

“The campaign provides a three-month opportunity for those who want to get their tax affairs up to date and come forward. Our aim is to make it easy for them to contact us and send in completed tax returns, putting their affairs in order.

Taxback.com offer tax return services to contractors like you. They have offices in 20 countries and will help you complete your tax return in any way they can. They offer assistance to all contractors with Consort for a reduced fee from £110 (normally £250). If you need any help with either this or a previous year’s self-assessment returns, then click here to take advantage of the reduced rate.  

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