This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Unpaid income tax

Wayne48
Posts:1
Joined:Thu Jan 06, 2022 2:41 pm
Unpaid income tax

Postby Wayne48 » Thu Jan 06, 2022 2:51 pm

Hi all..need some information about paying back dated tax..its been a fair few years and now is time to come clean and get a utr number and register as self employed..does anyone have any info as to what hrmc will do...just fine me? Take me to court? Any information would be greatly appreciated

someone
Posts:692
Joined:Mon Feb 13, 2017 10:09 am

Re: Unpaid income tax

Postby someone » Thu Jan 06, 2022 7:43 pm

I think in general, if you come clean to HMRC then it's just penalties and interest (plus the tax owed)

The penalties are based on tax due, so if there's a lot of tax at stake then an accountant will probably get them reduced further than you could.

OTOH, if it's 1k of tax at stake, then the difference between a 50% and 20% penalty might not cover the accountants bill.

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

Re: Unpaid income tax

Postby bd6759 » Thu Jan 06, 2022 11:14 pm

If it is significant and over a number of years, consider this:
https://www.gov.uk/government/publications/hmrc-your-guide-to-making-a-disclosure

But take advice first.


Return to “Income Tax”