Self Assessment 2012/13

[muraxza]

Hello Experts

i am in process of amendment for my 2012/13 self assessment as the dividend figures were filed incorrect by my previous accountant and during the review of previous years accounts my new accountant found this error and have sent amendment to hmrc back in September 2015. now question is how long this will take them to correct the figures and whats there guidelines regarding this as the new figure won't create any tax liability because this will be still remain under the threshold of personal allowance its just required to update the figures..

i need to get this done asap because have to provide SA's to lender for mortgage

thanks in advance

[bd6759]

Assuming that the 2012/13 tax return was filed on or before 31 January 2014, the time limit for amending it was 31 January 2015. It can no longer be amended.

[muraxza]

i believe you referring online amendment which is yes one can't do this online but i have sent them paper amendment which can still be amended as 12/13 still falls within 4 years time line correct me if my understanding is right regarding this?

[bd6759]

Your understanding is not correct. An amendment can only be made within 12 months of the filing date.

https://www.gov.uk/self-assessment-tax- ... orrections

[muraxza]

well you need to read thoroughly the link you have provided
this is an abstract from your said link

Making changes 12 months after the deadline
Write to HMRC to tell them about a change to your tax return if the deadline was more than 12 months ago.

Include in your letter:

the tax year you’re correcting
why you think you’ve paid too much or little tax
how much you think you’ve over or underpaid
You can claim a refund up to 4 years after the end of the tax year it relates to. If you’re making a claim, also include in your letter:

that you’re making a claim for ‘overpayment relief’
proof that you’d paid tax through Self Assessment for the relevant period
how you want to be repaid
a signed declaration saying that the details you’ve given are correct and complete to the best of your knowledge

[bd6759]

That part does not amend the return.

If you have paid too much tax, you are telling HMRC that you are claiming "overpayment relief". If you claim overpayment relief, you get a repayment of tax.

If you have paid too little tax, HMRC will decide if they can make an assessment to recover the additional tax you owe.

In both these scenarios the original assessment (your self-assessment contained in your tax return_ are not amended. The cannot be amended: that is what the law says (S9ZA TMA 1970)


http://www.legislation.gov.uk/ukpga/2001/9/schedule/29