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Additional Tax due for 2012/13 but no Notice to file a Tax Return issued by HMRC

Additional Tax due for 2012/13 but no Notice to...

Just preparing new clients Limited company accounts to 31 Jan 14.

Dividend declared in accounts to 31 Jan 2013 (first year end of company) was enough to take client into higher rate tax.

Client is registered for self assessment with HMRC but HMRC did not issue a notice to complete a tax return for 2012/13, and therefore client didn't file a tax return for 2012/13 (or 2011/12).

There is going to be some additional tax due for 2012/13 by virtual of the dividend amount.

My question is, when we now file a Tax Return for 2012/13 and correctly declare the tax due on the dividend, will my client be fined for late filing of a 2013 tax return even though no notice has been issued by HMRC ?

Presumably there will also be interest on the tax that was due on 31 Jan 2014 ?


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13th Mar 2014 11:32

Wrong offence

Your client has not failed to respond to a notice to file a return nor has he failed to return a return so there can be no penalty for filing late.

Your client's sin is failure to notify HMRC that he owes tax. He should have done this by Oct 2013. The penalty for this offence is equal to the unpaid 2012/13 tax as at 31/1/14.  There could also be a further 5% penalty for paying that tax more than 30 days late.



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