HMRC’s latest accounts show that it had written off £23m, relating to nearly 25,000 cases where people had not filed self-assessment returns for at least three years.
It said the move followed an analysis of whether taxpayers needed to be in self-assessment. If they had registered for self-assessment in error, or if all their tax was collected through pay-as-you-earn, they were taken out of the self-assessment regime altogether.
HMRC also waives fines in cases where there is a “reasonable excuse”.
After 840,000 taxpayers (7% of the total) missed this January’s online filing deadline, it urged those with a good excuse to appeal.
The FT quotes HMRC:
“HMRC’s penalty rules are designed to create a level playing field for the majority who make the effort to get things right, while penalising the minority who try to get round the rules, or who make careless mistakes.Nothing to see here, move along please!
We apply the rules fairly and proportionately across the board.”
Tax does have to be taxing.
Professional Cover Against the Threat of Costly TAX and VAT Investigations
Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.
Ken Frost has negotiated a 10% discount on any polices that may suit your needs.
However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.
What is Solar Tax Investigation Insurance?
Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.
To find out more, please use this link Solar Tax Investigation Insurance
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"