Voluntary tax returns

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Historically HMRC have exercised discretionary collection and management powers to accept and treat voluntary income and corporation tax self-assessment returns received on the same basis as tax returns received under a statutory notice to file. In the light of recent legal challenges to the practice and the validity of returns received voluntarily legislation will be introduced with retrospective effect to put the practice onto a statutory basis. This change is intended to remove any doubt for taxpayers that voluntary tax returns have and will continue to be accepted as valid returns. The measure will have retrospective and prospective effect from the date of Royal Assent to Finance Bill 2018-19.

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Added By: Sue Taylor on 01st Nov 2018 - 14:10
Last Updated: 01st Nov 2018 - 15:01

Number of Views: 86
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