HMRC launched a tax return campaign called My Tax Return Catch Up Plan this July allowing people to bring their tax affairs up to date if they had failed to submit tax returns for, up to and including, the 2011/12 tax year.
The deadline for submitting and paying any taxes is now only a week away. People have until 15th October to get everything up to date as after that date HMRC will begin contacting those it believes to have not declared income. Penalties would be more severe for those who are contacted by HMRC, including criminal investigation.
Last year a similar campaign was run and resulted in over 3,000 people making voluntary submissions. Those that missed the deadline that time round were in total issued nearly £60 million in tax demands.