HMRC have relented a little on their stance wrt late submissions (ie non submissions) of self-assessment forms for tax years 2010 and earlier, and have launched the "Tax Return Initiative".
The
Telegraph reports that people who have not completed self-assessment forms will be given three months
to declare untaxed income earned before 2010. Those who fess up will be given reduced penalties of £200, plus a fine
equivalent to 10% of the unpaid tax.
HMRC will write anyone who should be paying tax at 40% or 50% but has failed to comply with a request to fill in a
self-assessment tax return for the tax year 2009-10 or earlier.
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