HM Revenue in the UK is offering individual taxpayers the opportunity to bring their tax affars up to date, and to be offered the “best terms available” if a Self Assessment tax return has been issued for any tax year up to 2011/12 where the taxpayer has not yet filed the return.
To take advantage of this offer you must complete and submit your outstanding tax returns by the 15th of October, 2013.
And once you have submitted your outstanding tax returns, you will need to pay the Income Tax and National Insurance contributions that you owe – or claim any repayment that is due by the same date, ie before the 15th of October, 2013.
GM Tax is aware of many individuals who are living in Australia who have UK tax returns outstanding where (typically) they have a property in the UK that is being let. We encourage any such taxpayers to take advantage of this opportunity, as we feel sure that HM Revenue will be starting to make further enquiries into the letting of UK properties by overseas landlords after the middle of October.
It should also be remembered that HM Revenue has arrangements in place with the Australian Taxation Office for the latter to collect monies owing from Australian residents.
GM Tax invites those who have overdue UK tax returns to contact us to discuss for a free initial discussion about how we can help.