How an HMRC letter about £3,000 of income turned into a £275,000 tax bill
Tuesday, February 15, 2011 | Posted by: Dave Jennings
Categories:
Personal,
Protecting your wealth
| Tags: tax,
HMRC,
Dave Jennings,
undisclosed income,
out of time,
case,
tribunal,
appeals
As tempting as it may be to stuff unopened HM Revenue & Customs (HMRC) envelopes down the sofa or behind the clock, details of a recent tax tribunal decision may change your mind. This is a real horror story of HMRC turning a £3,000 initial risk into a £275,000 problem and the possibility of bankruptcy.
