A Harsh Climate – HMRC windfall from new penalties

HMRC have announced a massive £600million windfall from individual taxpayers failing to submit their 2010-11 tax returns on time. Our previous blog highlighted the harsh new penalty regime, and it seems that HMRC are minded to pursue the extra revenues rigorously.

Anyone affected should react now by bring their affairs up to date, and those with a reasonable excuse may be able to persuade HMRC to show some leniency. Please contact one of our advisers for assistance in this regard.