| Around 500,000 people who
complete self assessment tax returns will
have to wait longer than normal to find
out how much tax they have to pay, HM
Revenue & Customs (HMRC) has announced.
Some of the self assessment statements due
to be issued in July will now be issued
later, HMRC announced on 25 July, although
it said most would be sent on time. People
with a unique taxpayer reference number
ending with digits from 70 to 99 may be
affected.
HMRC usually tells people in the
self-assessment system – mainly sole
traders, the self-employed, and partners
in businesses or limited liability
partnerships – who have to pay tax "on
account" that they should make two
estimated tax payments, one by 31 January
and the other by 31 July.
They make the payments based on tax
paid in the 2009-10 tax year. A balancing
payment, or refund, will then be made in
January 2012 to resolve any differences
between the estimate and the actual
amount.
HMRC said around 500,000 customers
would receive their July statements later
than normal, adding: “If HMRC has asked
you to make a second payment on account in
July, you normally have to pay this by 31
July. If you receive your statement in
August, you should still pay the tax due
as soon as you can.
“You'll only be asked to pay interest
on the tax due on the second payment on
account if you still haven't paid it more
than 30 days after you receive your
statement. Online customers will still be
able to check their statement online and
pay online too.”
In January 2008, a similar number of
taxpayers received their statements late.
HMRC said it had since changed its
forecasting arrangements and these had
worked well but added: “The volumes on
this occasion have risen out of all
proportion to previous patterns. HMRC will
now ensure that they understand the
reasons for this and will be fully
prepared for any future rises.”
The BBC and other media have reported
that HMRC failed to order enough special
paper on which to print the statements.
LINK:
Self assessment statements |
