Tax return for 2011-2012
Discussion
Hi
Am a paye worker and was planing on filing a return this year as I earn 100k+.
However I have just received a letter from the Revenue, enclosed being an empty copy of a tax return form for apr 2011-apr 2012. I just checked and in that year I earned 100k+ too.
So do I have to fill it out? Will I get huge penalty charges? Bit thrown by receiving it tbh...
Am a paye worker and was planing on filing a return this year as I earn 100k+.
However I have just received a letter from the Revenue, enclosed being an empty copy of a tax return form for apr 2011-apr 2012. I just checked and in that year I earned 100k+ too.
So do I have to fill it out? Will I get huge penalty charges? Bit thrown by receiving it tbh...
Yes you have to complete and submit it once issued.
Normally, you have 3 months to do this from the date the return was issued BUT if you should have completed a return due to your personal circumstances then you may be issued with late filing penalties.
Similarly, any balance of tax due for 11/12 was due by 31 January 2013 and by now would have accrued interest @ 3% and 2 penalties of 5% of any tax outstanding.
I suspect much will depend how accurate your tax code was and what other income you receive.
If you need any help, drop me a PM.
David
Normally, you have 3 months to do this from the date the return was issued BUT if you should have completed a return due to your personal circumstances then you may be issued with late filing penalties.
Similarly, any balance of tax due for 11/12 was due by 31 January 2013 and by now would have accrued interest @ 3% and 2 penalties of 5% of any tax outstanding.
I suspect much will depend how accurate your tax code was and what other income you receive.
If you need any help, drop me a PM.
David
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