Not paid tax in years. Advice sought.

ContactSheet

By not self-assessing as a self-employed person, I have not paid any tax for a number years and I am in desperate need of assistance.

I'm full of anxiety about the situation I have put myself in and know that I can’t carry on like this. I know what I have done is wrong and want this cycle of denial to end, to come clean and face the consequences of my actions.

I there anyone on here with experience of accountants who are specialists in dealing with situations like mine? 

I have been offered a full time job and wondering if beginning this process with HMRC will affect the job offer that has been made to me?

Many thanks in advance.

macman

So you have never registered with HMRC as self-employed?

ContactSheet

macman said:

So you have never registered with HMRC as self-employed?

Yes, have registered but not engaged since so doing. 

Sorcerer2018

You haven't said how much your earned in those years, are you sure you have tax to pay?

justworriedabit

OP
It all depends on how much your earnings are, the period you failed to disclose. I'm not sure what to say other than own up sooner than later as you will have to face the music and IMHO, honesty will count for something before they start chasing you.

I hope the outcome is not too much - stuff like that happens, so tell them how you got into that rut. But, do consult a professional re the possiblites of outcomes before you contact HMRC. 

 Or call them and ask without giving you details and depending on whom you speak with, some can be helpful as we've done it and when asked for our details rather than lie I said no thanks and it was a general query.

MattMattMattUK

ContactSheet said:

By not self-assessing as a self-employed person, I have not paid any tax for a number years and I am in desperate need of assistance.

I'm full of anxiety about the situation I have put myself in and know that I can’t carry on like this. I know what I have done is wrong and want this cycle of denial to end, to come clean and face the consequences of my actions.

I there anyone on here with experience of accountants who are specialists in dealing with situations like mine? 

I have been offered a full time job and wondering if beginning this process with HMRC will affect the job offer that has been made to me?

Many thanks in advance.

How many years since you registered as self-employed.
Did you earn money in those tax years and did you make a profit or loss?
Have you received notifications from HMRC?
Have you logged into your HMRC online account?

You will likely have fines for not submitting returns and will receive interest and penalties on the tax you should have paid if you made a profit. That being said, HMRC are far more forgiving if you get in contact, rather than them coming after you. 

People on here can give you some guidance, but you will likely need to engage an accountant at some point if only to tidy things up and make sure you are doing it all correctly. However it is all resolvable and does not need to be a horrific process to deal with. 

macman

If already registered, I don't understand why you have not been receiving demands for your returns to be filed?
Have you changed address since you registered? How many years is 'a number of years'?
Have you paid any Class 2 or Class 4 NI contributions?

ContactSheet

justworriedabit said:

OP
It all depends on how much your earnings are, the period you failed to disclose. I'm not sure what to say other than own up sooner than later as you will have to face the music and IMHO, honesty will count for something before they start chasing you.

I hope the outcome is not too much - stuff like that happens, so tell them how you got into that rut. But, do consult a professional re the possiblites of outcomes before you contact HMRC. 

 Or call them and ask without giving you details and depending on whom you speak with, some can be helpful as we've done it and when asked for our details rather than lie I said no thanks and it was a general query.

Many thanks for replying. I have engaged an accountant and the process of re-engaging with HMRC has begun.

ContactSheet

MattMattMattUK said:

ContactSheet said:

By not self-assessing as a self-employed person, I have not paid any tax for a number years and I am in desperate need of assistance.

I'm full of anxiety about the situation I have put myself in and know that I can’t carry on like this. I know what I have done is wrong and want this cycle of denial to end, to come clean and face the consequences of my actions.

I there anyone on here with experience of accountants who are specialists in dealing with situations like mine? 

I have been offered a full time job and wondering if beginning this process with HMRC will affect the job offer that has been made to me?

Many thanks in advance.

How many years since you registered as self-employed.
Did you earn money in those tax years and did you make a profit or loss?
Have you received notifications from HMRC?
Have you logged into your HMRC online account?

You will likely have fines for not submitting returns and will receive interest and penalties on the tax you should have paid if you made a profit. That being said, HMRC are far more forgiving if you get in contact, rather than them coming after you. 

People on here can give you some guidance, but you will likely need to engage an accountant at some point if only to tidy things up and make sure you are doing it all correctly. However it is all resolvable and does not need to be a horrific process to deal with. 

Thanks Matt. I have engaged an accountant, and they echo what you've said. I know I'm in for a self-induced bumpy ride but feel a lot less anvious about it all.