SB Self Assessment Letter and FAQ's 31 August 2007 at 9:25PM edited 30 November -1 at 1:00AM in Small Biz MoneySaving 8 replies 1.1K views

martindow

I've received a letter from HMRC saying that many business tax returns are incorrect when they are checked resulting in extra charges and penalties. This was with three pages of tax FAQs. The letter stated that it is not an inquiry but a reminder.

Have other people received these? I don't think I have anything to hide, but tax inspections don't sound much fun. I'm hoping that many thousands of these letters have been sent out and that I'm not lined up for an inspection.

lovebargains

martindow wrote: »

I've received a letter from HMRC saying that many business tax returns are incorrect when they are checked resulting in extra charges and penalties. This was with three pages of tax FAQs. The letter stated that it is not an inquiry but a reminder.

Have other people received these? I don't think I have anything to hide, but tax inspections don't sound much fun. I'm hoping that many thousands of these letters have been sent out and that I'm not lined up for an inspection.

I got one too! Phew glad, I'm not the only one, must admit like you I was a bit worried!

martindow

Are there only the two of us in MSE world!?

the_optimist

I didn't get one but OH did.

scbk

Have the people that've received the letters already sent off their tax form? I aint had any letter from MRC but aint done the form yet

martindow

scbk wrote: »

Have the people that've received the letters already sent off their tax form? I aint had any letter from MRC but aint done the form yet

No, I haven't sent my form yet.

Bean_Counter

I've not seen the letters myself, but I would imagine that they are letters from HMRC 'fishing' for information as they have done in the past.

HMRC claim that they are not random, but to taxpayers who are possibly not paying sufficient tax. Letters are cheap for HMRC to send out compared to starting a formal investigation.

The letters themselves carry no legal status. However it is best not to ignore and double check that, for example, all bank / building society interest is included on your self-assessment returns and that you can substaniate all expenses claims.

leighleigh5

Hi

i'm not sure if I'm posted in the right place... I don't know how to start a new thread. Anyway I have a question about self assessment penalty charges. Rec'd a charge today for my partnership self assesment. My partner pulled out of it even before making any money so we had a loss. I notified the tax man and said I'm now a sole trader. They sent me out a new form and so i filled my tax return. So why is it that i'm charged for not sending in my partnership form? I have already paid my owed taxes. How can I appeal against this and will this charge be waived? Do I have to submit something after all?
Thanks

fengirl_2

Onvce you have been issued with a self assessment, you have to complete it - even if there is nothing to enter, otherwise, as you have seen, there is a penalty. The only way to overturn the penalty is to complete the form and send it in. There is no appeal - the completion of the form is the appeal.