Phaara
Journalist
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Millions of people face a penalty of £ 100 if they do not produce their tax return
Millions of people have still not produced their declarations of online self-assessment income for which the deadline is midnight, which means that they could be sentenced to £ 100, warned HMRC.
More than 3 million people who risk the penalty are invited to go online to get help and advice and use the application to pay any tax in progress once their declaration is submitted.
The new rules now mean that those that sell around 30 articles on online platforms such as Ebay and Vintred will now have their sales information shared with HMRC which will be assessed in relation to their income tax declarations.
Those who do not have a reasonable excuse to miss the deadline will receive a penalty that increases more it is in progress.
If the midnight deadline is missed, an initial fixed penalty of £ 100 is issued, which applies even if there is no tax payable.
“Customers’ reasons not to pay their tax invoice or organize a payment plan before the deadline will be considered individually,” said Myrtle Lloyd, director of HMRC customer services.
After three months not to pay a tax, additional daily penalties of £ 10 per day are applied, up to a maximum of £ 900, with other penalties at six months and one year, including additional interest in addition .
About 8.6 million people have already declared their tax for the year 2023-2024, including small businesses and those with additional income outside their employment.
“ Intimidating tax system ”
“Tax can generally be a fairly intimidating subject,” the BBC accountant Benedicta Egbeme, founder of Beniratio Finances, added to the BBC, adding that even if the British tax system is “complex and intimidating”, people should not ” bury the head in the sand “due to the fear of not engaging with the system.
“If you know that you are required to finish the return and you have no reasonable excuse ” and that you also have an approximate idea of the quantity that you may have to pay – it may be based on Yields from previous years – You can choose to make a tax payment even without subject to avoid interest costs.
“You can then make your calculations and make a submission as soon as possible for the correct amount. Of course, any deficit must be paid and all excessive payment will be reimbursed by the HMRC,” she said.
Ms. Egbeme said that reasonable apology not to be subject to: mourning, being ill to the point of being admitted to the hospital or dealing with a potentially fatal disease.
Other reasons that will take into account software is software failure, problems with your personal computer, HMRC online services and “destruction of goods, files, fire documents, floods or theft” .
She says that you can call on the fine via a call form or write an HMRC letter – which can help the fine to be canceled, but that always means that you must submit a return.
“In fact, the HMRC does not consider calls until your income declaration has been submitted and the payment has been made,” she said.
Ms. Lloyd added that people should always include their bank details as part of their income tax return to ensure rapid refund if necessary.
The HMRC also warns that customers must be aware of the risk of lowering scams that can increase during tax deadlines, and that people should never share their HMRC connection details with anyone.
HMRC recently denied having managed a “deliberately poor” telephone service in order to push taxpayers to request online help instead. The chief executive officer Jim Harra said that the allegations of the Deputy Committee on his customer service were “completely baseless”.
Ms. Egbeme has added that you must make a self-assessment if your independent work income was greater than £ 1,000, and for things, including the benefits made from your hobbies and your jostles, including the Baby-sitting, sale on eBay, Vinton, Gumtree or other online platforms, including Airbnb.
She said that companies like Ebay, Vinted, etc. are now required to share sales data and personal information on sellers who sell more than 30 items or have made at least £ 1,700.
Individuals must also have a self-assessment if you have income abroad on which you must pay taxes, or if you live abroad but you have income in the United Kingdom, or if your income from Renting a room in your house exceeds £ 7,500.
