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Where Taxpayers and Advisers Meet

paying back hmrc

Posts: 6
Joined: Sun Dec 29, 2013 2:21 am

paying back hmrc

Postby griffin41 » Wed Jan 01, 2014 10:41 pm

a mate of mine would like to know how he will most likely be asked to bay back money to hmrc and I could be in the same boat too so any info would help - mind you well be finding out soon anyway (((GULP)))

Tax Champion
Posts: 371
Joined: Wed Aug 06, 2008 4:09 pm

Re: paying back hmrc

Postby Tax Champion » Thu Jan 02, 2014 12:22 am

Your question implies that you already suspect that you have not paid all the tax you are due to pay. You base this belief on the situation of a friend. The first thing is that your tax situation may be completely different to your friends. The only way you will know for certain is if you discuss the problem with a qualified tax specialised. If you have underpaid your taxes you would be best advised to make a full voluntary disclosure to HMRC, as this could significantly reduce and tax geared penalties that are levied on you.

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