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Where Taxpayers and Advisers Meet

Advise for Friend...Lost receipts....What happens now?

King_Maker
Posts: 6538
Joined: Wed Aug 06, 2008 3:22 pm

Re: Advise for Friend...Lost receipts....What happens now?

Postby King_Maker » Sat Sep 26, 2015 10:44 am

It is not possible to say how much the extra Income Tax would be, as it would depend on his exact circumstances for the relevant tax year(s).

There is usually no way to mitigate the interest, as he will have had the benefit of not paying the tax at an earlier date.

His ill health should be taken into account by HMRC - a letter from his doctor may assist, if necessary.

Any penalty may be nominal - depending how sympathetic the HMRC officer is.

taxadvise
Posts: 7
Joined: Fri Sep 25, 2015 9:30 am

Re: Advise for Friend...Lost receipts....What happens now?

Postby taxadvise » Sat Sep 26, 2015 11:36 am

Thanks King.

I guess he'll just have to contact them and explain his situation...maybe I might speak on his behalf if this is allowed.

King_Maker
Posts: 6538
Joined: Wed Aug 06, 2008 3:22 pm

Re: Advise for Friend...Lost receipts....What happens now?

Postby King_Maker » Sat Sep 26, 2015 1:07 pm

Unless you are confident in your own ability to deal with the matter, I suggest you engage a professional adviser (maybe one versed in HMRC Enquiry/Investigations work).

This Enquiry may well expand into other areas, if HMRC consider the lack of receipts to cast doubt on the rental accounts for previous tax years.

taxadvise
Posts: 7
Joined: Fri Sep 25, 2015 9:30 am

Re: Advise for Friend...Lost receipts....What happens now?

Postby taxadvise » Sat Sep 26, 2015 1:18 pm

Good idea. I'll try and contact Citizens Advice for him.


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