The government was made aware of concerns surrounding the 12-month deadline for filing a return and six-month deadline for payment of inheritance tax during the pandemic and associated lockdown in a parliamentary question submitted by Olivia Blake, MP for Sheffield Hallam.
She asked the Treasury what could be done for people who faced a bereavement during lockdown and would struggle to meet the six-month payment deadline.
Jesse Norman, financial secretary to the Treasury,
is quoted by the FT:
"Where a taxpayer is unable to file their return on time because of Covid-19, HMRC will consider that within the scope of a reasonable excuse and as grounds for appeal against late filing penalties.
The government continues to explore all avenues to help those affected."
Tax does have to be taxing.
Tax Investigation Insurance
Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.
You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.
Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.
A Solar Protect policy will enable your Accountant (your tax return agent) to:
- Deal with any correspondence from HMRC
- Attend any meeting with HMRC
- Appeal to the First-tier Tribunal or Upper Tribunal
- Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly
- Premiums are Annual Premiums.
- Premiums are inclusive of 12% IPT.
- Premiums and IPT are due in full in advance / at commencement of scheme.
- There is a NIL excess on all policies.
Please click here for details.
HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"