An East Yorkshire accountancy firm has welcomed a move by HMRC that gives taxpayers an opportunity to bring their tax affairs up to date and avoid potential penalties.
Forrester Boyd Robson, based at Woodmansey, near Beverley, and part of one of the region’s largest independent accountancy practices, says the campaign ‘My tax return catch-up’ will target individuals who have failed to submit their self-assessment tax returns.
However, Paul Chappell, the firm’s senior tax investigations manager, said the campaign should be welcomed. He added: “It will allow taxpayers to take advantage of a quick and straightforward waY to bring their tax affairs up to date and significantly reduce the amount of penalty being charged by HMRC”.
Once participants have registered with HMRC, they have until 15 October 2013 to complete and submit the outstanding returns and pay any outstanding tax they may owe.
Mr Chappell said: “Individuals who might fall into this category need to be aware that HMRC, using their intelligence gathering software, will be writing directly to several thousand people it has identified as having returns outstanding.
“Registering for the campaign will stop HMRC taking action to pursue the returns or estimated assessments”.
Forrest Boyd Robson is part of Forrester Boyd, one of the North’s leading chartered accountancy firms with 14 partners and 150 staff at offices at Woodmansey, Grimsby, Louth, Skegness and Scunthorpe.