Self Assessment: Improved HMRC Technology will Help to Detect Tax Dodgers

22 - 01 - 2013

With the Self Assessment deadline drawing ever nearer, tax experts are warning that HMRC is better equipped than ever to identify who needs to complete a Self Assessment tax return and if you have filled your return in incorrectly.

Tax director at Smith & Williamson, Richard Mannion, warned that HMRC has ‘far more detail at their disposal than just a few years ago’.

‘HM Revenue & Customs is able to cross-reference information with banks and other government departments so it knows what should be coming its way. So if you suspect you may owe some extra tax, tell the taxman and make sure you include details of all unearned income when completing your tax return,’ he said.

Mr Mannion advised that those who need to complete returns remember to take offshore bank accounts or inherited offshore investments into account.
‘Interest arising on such accounts needs to be included on a tax return to the UK tax authorities just as any income from UK banks is noted,’ he said.
He also warned that people filling out their returns need to include one-off fees, for example fees received for invigilating at an exam or for the sale of shares.
Looking for Expert Help?

If you would like to take the hassle out of your Self Assessment, why not contact us for a quote? With Foremans, you can rest assured that your tax return is being completed by experts. We will handle all aspects of your Self Assessment. 
Remember – the deadline for filing your 2011-12 Self Assessment tax return online is 31 January 2013! Don’t risk a penalty for late filing.

If you have any questions about our Self Assessment service, please do not hesitate to contact us on 01244 625 500.






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