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bigduckontax
bigduckontax, Accountant
Category: Tax
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Experience:  FCCA FCMA CGMA ACIS
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I am a high income tax payer claiming child benefit. I have

Customer Question

I am a high income tax payer claiming child benefit. I have just been informed by inland revenue that I owe £4445 in tax arrears and fined £678. The tax arrears is for the tax year 2013-2014. The issue is I do not have this type of money and do not know what to do
Submitted: 11 months ago.
Category: Tax
Expert:  bigduckontax replied 11 months ago.
Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question. Firstly , is HMRC's demand correct? Do you actually owe this sum or are HMRC up to their usual trick of making assumptions. HMRC are very keen to make assumptions, in my experience invariable wrong and always in the revenue's favour. HMRC send out literally thousands of incorrect statements and bills each year. The fine appears quite improper unless, of course, you have failed to make a self assessment tax return for the year in question. However, you are only required to self assess if you are in receipt of income which has not been taxed at source or if HMRC requires you to self assess. You should appeal if HMRC have got it wrong which you do merely by writing a letter to the tax office concerned. If, after all that, the demand is correct you will have to negotiate a repayment schedule with HMRC which you can afford. Unfortunately HMRC will take the line that as you have had this money why can you not repay it immediately, so just persevere. I do hope that my reply has been of assistance.

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