A Glitch That Could Cause an Error in Your UK Tax Return
A technical glitch within the HMRC system has at times been the cause for taxpayers receiving incorrect reminders on payments; a problem since a taxpayer not paying the right amount of their UK tax return does get fined!
Are you on the self-assessment UK tax return system? If you are self-employed then you are, which means the likelihood of receiving inaccurate payment notices from HMRC (due to a glitch in the system) is possible. Listed below are a few such instances.
‘Payment on Account’ Not Included Due to HMRC System Error Could Lead to Fines for Self-employed
This error could affect self-employed taxpayers who have already filed UK tax return for previous tax year. This amount you paid should have included a ‘payment on account’ for the following year; however, due to a system error part of the payment will be excluded from the HMRC payment reminder. To learn more about ‘payment on account’ you can talk to a friendly tax consultant at Taxback, remember that when in doubt its best to seek the services of a professional tax consultant in the UK, the pros of this service always outweigh the fines most taxpayers in the UK end up paying.
Incorrect Payment Reminders From HMRC Will Cause Taxpayers to Pay Late Fees
Receiving a wrong payment reminder could end with self-employed UK tax payers getting charged a late payment fee! While you will rely on details sent by HMRC, our advice is you seek the help of a tax accountant to verify your UK tax return dues are correct, before the January deadline.
Be Safe Double, Check Your UK Tax Return Dues for January
Self-employed taxpayers in the UK, submitting an online tax return must meet the January 31st deadline. Also if you’re within the category that must make payments by the 31st of January, then those payments must include the final payment for the previous tax year as well as the first two instalments for the present tax year.
To better comprehend how a technical glitch in the HMRC tax return system can affect you, or to be safe and avoid errors and paying hefty fines to HMRC, speak to a tax accountant about a quick evaluation of your online tax return submission; once we set you on the right path, you can rest assured HMRC gets its proper dues and you end up paying the correct fee on your tax return, minus any fines.