out of time tax returns dilemma (again)

out of time tax returns dilemma (again)

Didn't find your answer?

I have a new client who has SA tax returns outstanding going back to 06/07. His HMRC online account advises that the oldest two years being 06/07 and 07/08 are now closed and therefore it is no longer possible to file returns for these two years. I noted a previous discussion on this point last month which confirmed this position, although in that case there was a benefit to the tax payer in having the returns processed. Given this do I just ignore these two years, even though there is likely to be tax due for both years, or do I try and submit paper returns ? Currently the only liability arising is from penalties so it would certainly be in the client's interest to not have assessments raised for these years.

Replies (1)

Please login or register to join the discussion.

avatar
By billgilcom
05th Feb 2013 01:40

Voluntary Disclosures

You could always - with the client's permission -  provide a voluntary disclosure to HMRC that profits for earlier years were under assessed.

Thanks (0)