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Where Taxpayers and Advisers Meet

Late Tax Returns - Exceptional Circumstances

caffe
Posts:28
Joined:Wed Aug 06, 2008 4:02 pm
Late Tax Returns - Exceptional Circumstances

Postby caffe » Mon Jun 12, 2017 9:31 am

Hello would you be able comment on whether my father will be fined for filing late or not.

My father is retired now 84 years old. He has been receiving savings interest as income as well as the state pension. It is not until this last year that he has realised that he was overpaying tax due to the interest income being taxed at source and so the tax free personal allowance did not kick in. Over the last 4/5 years he has potentially overpaid around £1000 per year that he could claim back.
HMRC are being vague as to if he will be fined for late filing of these returns or not. Due to the value of interest income the tax return is the only form that they will allow him to use.

Any help would be grateful.

Thanks

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Late Tax Returns - Exceptional Circumstances

Postby bd6759 » Mon Jun 12, 2017 5:27 pm

You don't get fined for paying too much tax.

You do not need to submit a tax return unless HMRC asks you to. If HMRC ask you to complete a return it will have a de date that is least 2 months away. It is not late until that due date has passed.

Contact HMRC with details of the income and the amount of tax you want repaid. If HMRC choose to send a return, that is up to them. But it will not be late unless you fail to return it promptly.

caffe
Posts:28
Joined:Wed Aug 06, 2008 4:02 pm

Re: Late Tax Returns - Exceptional Circumstances

Postby caffe » Mon Jun 12, 2017 8:15 pm

Thank you for the reply, I spoke with them today, suspect I spoke with someone who had minimal knowledge and was told they may fine him but I can't see how as you say he never had been asked to file a tax return before.
Also I am sure my father is not the only person who is in this position , makes me think how are the HMRC going to manage all those who won't be taxed now that we receive gross interest.

SteLacca
Posts:448
Joined:Fri Aug 07, 2015 2:17 pm

Re: Late Tax Returns - Exceptional Circumstances

Postby SteLacca » Wed Jun 14, 2017 9:05 am

They will manage the same way they do with everything else, badly and haphazardly, relying on the tax profession to pick up on their mistakes.


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