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HMRCs Tax Return Initiative. 27/07/12

The initiative, which was announced on 19 June 2012, runs from 3 July until 2 October 2012, and will target higher-rate taxpayers who should be completing tax return but aren’t.
 

It applies to those who should be paying tax at 40% or 50% Tax Returns, and whose tax returns for 2009/10 and earlier have not yet been submitted.
 

Anyone taking part will not be charged a tax related late filing penalty; however, fixed penalties, interest and surcharges for late payment will still apply.
 

To take part in the Tax Return Initiative you need to tell HMRC that you intend to do so. You can do this by completing an online form and sending it to HMRC either electronically or by post. You then need to complete and submit your late tax return(s) and pay what you owe (or claim any repayment that might be due) by 2 October 2012.

Or, alternatively, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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