There are some scary things to know about this, even if you have an accountant. In this video Dan runs through the key things you need to know about what happens if you get your tax return wrong.

Topics include:

Who is responsible for getting your tax return right
Penalties for incorrect tax return
interest for unpaid tax
How to amend a self assessment tax return
What happens if you make a mistake on your tax return
What happens if you don’t file a tax return (UK)
How to declare income to HMRC
How to come clean with HMRC and declare your income
HMRC disclosure service
Undeclared rental income example

00:00 Intro
00:32 Shocking fact about who is responsible
01:45 Telling HMRC about the error(s)
04:48 Penalties for getting it wrong
06:47 Summary

When writing to HMRC remember to include your 'UTR' (unique tax reference) if you have one, and lay out the situation and error you've made.

https://www.gov.uk/selfassessmentta...

… and more!
If you have any questions on this, please comment below.

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