Correcting Mistakes in Tax Returns
Mistakes happen, but when it comes to tax returns, errors must be corrected as soon as possible. If incorrect information comes to light after submission, the taxpayer is responsible for making amendments.
Failing to correct mistakes in tax returns can lead to penalties, particularly if HMRC later investigates. Proactively fixing errors reduces risk and demonstrates good compliance.
How to Correct Errors in a Submitted Tax Return
If you discover a mistake in your tax return, take action immediately. The process depends on whether the submission deadline has passed:
- Before the deadline – Simply resubmit the corrected return through HMRC’s online system.
- After the deadline – You may need to make an amendment through your HMRC account or submit a disclosure.
The sooner mistakes are rectified, the lower the risk of penalties.
When HMRC Launches an Enquiry
If HMRC opens an enquiry into your return, correcting mistakes becomes even more important. If errors appear careless or deliberate, penalties can be severe. However, voluntarily fixing errors before HMRC finds them can reduce penalties or even remove them entirely.
Honest mistakes happen, but HMRC expects taxpayers to take responsibility for corrections. Delaying action could make matters worse.
How We Can Help
Understanding the rules around correcting mistakes in tax returns can be challenging. At Lewis Brownlee, we guide businesses and individuals through the process, ensuring compliance and minimising penalties. We offer more than just a service. We offer peace of mind that leaders in the tax field are handling your affairs. So, no matter what happens, you have us by your side looking out for your best interest. Plus, we offer a free introductory meeting so that you see how you gel with us. We know it is important for you to find out first what we do and how we do it before you commit. So, do contact us today. Our team is ready to assist you!