HMRC runs out of paper to print self-assessment statements!

HMRC is in hot water yet again; this time over delays in sending out statements to individuals who submit self-assessment tax returns.

Freelancers may like to contact a specialist accountant if they have been affected by this latest debacle. The problem apparently stems from the fact that HMRC did not order enough paper to print the statements! The Revenue has apologised and admitted that this will affect up to half a million taxpayers.

The government department has claimed that penalties will not be levied on taxpayers providing they pay any tax owed in a timely manner. Contractor accountants who have been asked to make a payment on account this month should pay by the 31st of July. In normal circumstances, a penalty would be imposed if the payment was made later than this date.

However, if you do not receive a statement until August, you should pay it as soon as possible. Interest be only be levied on the amount due if the statement remains unpaid for more than 30 days.

It seems that the Revenue is having major problems getting anything right at the moment. This is a matter of great concern to many people, not least because of the plan to implement real time information for PAYE. Instead of reducing staff numbers, maybe HMRC should consider hiring more competent members of staff.

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