Could anyone please tell me what the penalties (or show me a link to the HMRC website) would be for an individual who hasnt declared rental income for the past 4 years. I am aware of the penalties for late filing of a return that has been issued but in this issue there hasnt been a tax return issued for anything other than 2013. If I submit 2010,2011 and 2012 what are the penalties going to be?
Many thanks.
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Try here
Would have thought unprompted charges
http://www.hmrc.gov.uk/compliance/cc-fs11.pdf
http://www.hmrc.gov.uk/undeclaredincome/gettingstarted/tax-affairs.htm