HMRC campaign targets higher rate taxpayers

HM Revenue and Customs has written out to 7,100 taxpayers in Northern Ireland and the rest of the UK advising them to submit their tax returns or face fines and possible criminal inquiries.

The campaign specifically targets taxpayers who pay income tax at the 40% rate, and have gaps in their self-assessment record from 2009-10 or before. Those  targeted can receive reduced fines if they voluntarily make contact with the HMRC over the next month. Taxpayers who receive a letter this week will have been contacted previously to advise them of the a gap in their self-assessment record, and are being told to come forward now or risk a criminal inquiry.

HMRC may allow those who voluntarily come forward to pay the amount owed in installments - they will be liable for the tax owed, plus interest, plus a fine of 10% or 20% the tax owed.

If you live in Northern Ireland and require advice in respect of self-assessment tax returns, income tax, capital gains tax, inheritance tax, or general tax planning, contact one of the tax advisors at Wilson Nesbitt for information by calling 0800 840 9288

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