UK: HMRC delays issue of Self Assessment statements
HM Revenue & Customs (HMRC) will issue a proportion of Self Assessment statements later than usual this year, with some expected to be sent in August. This is due to having received an unusually high volume of tax returns for the year ending April 5, 2012, HMRC officials report. The majority of statements have been sent on time and should arrive in July.
“There is no need to be concerned about the delay announced by HMRC,” explained Owen Kyffin, tax partner, Whitley Stimpson. “If you are due to make a second payment on your account this year, you should still plan to pay it by July 31, although HMRC is extending the deadline for those who receive their statements in August. If you use HMRC’s online service, it’s worth checking how much you owe without waiting to receive a printed statement.”
Taxpayers who receive their statements in August should pay the tax due as soon as possible, although they will not be required to pay interest until after September 27. Anyone who receives their statement in July should pay by July 31, after which date interest will be charged on the outstanding amount.
“HMRC has explained that if your Unique Taxpayer Reference ends with digits from 70 to 99, then it is likely that you will receive your statement in August,” continued Owen. “The best course of action is to check your number and understand whether you’re affected. As long as you then pay by the right deadline, everything will be fine and no interest will be incurred.”
Resources: Whitley Stimpson website
