Amending SA tax return

[Bumblebee]

Help I've made a silly error. I submitted my SA tax return for the year ending April 2011, back in November 2011. At this time we were looking at buying another house (to let) and needed a mortgage. I decided to reduce some of the costs on my self-employment to make the profit look slightly better (not by much) and take the hit on paying slightly more tax. (We needed the tax submitted form for the mortgage adviser) But we then subsequently didn't buy the house or take out the mortgage! Unfortunately this took me into the over £1k due on tax, which now means I have to pay on account for next year which I didn't realise! Can I amend my SA tax return to be more realistic before 31st Jan 2012 and thereby reduce my tax liability? Or is it best to leave well alone and take the hit on paying the slightly higher tax!!???

[pawncob]

Deliberate fraud works both ways, whether you overdeclare or underdeclare. If you confess to HMRC they'll probably prosecute you.

By all means amend the return, but on the grounds that it was a genuine mistake. You're still taking a risk.

[Bumblebee]

OK thanks...I'll take the hit and learn from a very silly thing to do...slap wrist accepted