news item image | Ian Hudson wondered if it was April Fools Day when he heard that the Revenue and Customs (HMRC) had run out of paper!
Sheffield Chamber of Commerce : The Ultimate Business Network // SELF ASSESSMENT TAX DELAYS
Ian Hudson, Tax Manager at Barber Harrison & Platt, the region's leading independent firm of chartered accountants said that he wondered if it was April Fools Day when he heard that the Revenue and Customs (HMRC) had run out of paper!
commented "This is not the first time that HMRC have been late in issuing Self Assessment statements; back in 2008 some 600,000 tax payers received their statements late because of problems at HMRC.
This time around HMRC are giving taxpayers 30 days from the receipt of their statement to make the payment, which would normally have been due by 31 July".
The tax payers affected are those who have 10 figure Unique Taxpayer References ending in the range 70 to 99.
added, "HMRC's explanation is that there were more statements to issue in time for the July payment than there had been for the January 31 payment and this had not been taken into account".
concluded that "This could affect a number of self employed tax payers in the region and although those affected may feel a certain leniency should be given to them, the payment must be made within 30 days of receipt of the statement so that an interest charge is not incurred."