Share this content

Tax returns

Tax returns

Didn't find your answer?

Our new clients, failed to submit tax returns since 2008 for rental income one property hold jointly. Brother and sister. Brother passed away around 18 months ago and it became apparent nothing had been declared. That is when we were instructed.

The books and records are in surprisingly good order. We now have draft rental accounts and it would be easier enough to complete tax returns on our tax software then submit manually to HM Revenue and Customs. Think payment of the tax won't be too much of an issue.

Our question is would you submit these this way or use the let property campaign. If anyone has had a similar experience with HM Revenue and Customs would welcome how it was handled practically, especially around penalties. Thanks for your thoughts.

 

 

 

Replies (4)

Please login or register to join the discussion.

avatar
By David Ex
20th Oct 2021 22:23

Does no one bother searching before posting?

https://www.accountingweb.co.uk/any-answers/let-property-campaign-9

Thanks (1)
By SteveHa
21st Oct 2021 08:51

When you say that they "failed to submit Tax Returns", were notices to file issued by HMRC, and have HMRC issued their own assessments?

How you proceed will be determined by the answers to those questions.

Thanks (2)
avatar
By Refs1
21st Oct 2021 10:42

This is a client failure to notify HMRC, so no assessments or correspondence from HMRC been received. Thanks

Thanks (0)
Replying to Refs1:
By SteveHa
21st Oct 2021 10:55

In that case, LPC is what you use. You can likely get away with 10% penalties plus interest, provided you at least notify HMRC of intention to notify before they ask questions.

Thanks (0)
Share this content