HMRC have issued a further clarification about the year end extension to 2nd February.
This clarification relates to tax credits.
The ICAEW reports the following from HMRC:
"...‘We can confirm that the same
principle will apply as for Self-Assessment customers, that is tax
credits customers who renewed their claims in 2011, but have only given
estimated incomes, will also not be disadvantaged if they call with
their actual income on 1 or 2 February.'
Claimants who renewed their tax
credits at the first deadline, 31 July 2011, but who did so using an
estimate of their 2010/11 income, had until 31 January 2012 to supply
details of their actual income. For example, a claimant might have used
an estimate of income if they were self-employed and did not yet have
final 2010/11 accounts in time for 31 July 2011.
The 31 January deadline is also an
important one for those people who have not yet renewed their tax
credits for 2011/12 – it may still be possible to make the renewal."
Tax does have to be taxing.
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