Hypothetical situation

O

overandunder

Guest
Lets say you heard about somebody who just discovered that
they should have put something on their 2000/2001 tax return but didn't.
What do you do now?
Say nothing or come clean to the revenue?
Genuine mistake, person just forgot.
 
A lot would depend on the significance of the error. I'm assuming from the tone of your post that correction of the error would mean that the taxpayer would owe something to Revenue. Are we talking about a few quid, or a few hundred, or a few thousand?
 
There's a long standing principle on this site that we will never either advocate or facilitate tax evasion. Failure to retrospectively declare this issue would be tax evasion. Make the declaration.
 
My point is what would the revenue do if the return is 6 years out of date?
Would I be better off sticking it in this years and saying nothing?
 
I understood (though I'm not an expert on this) that Revenue were generally fairly decent when taxpayers owned up to errors like this themselves, and Revenue would generally not apply interest & penalties in such cases. I'm not sure why you would want to stick it in this years and create a web of lies and confusion?
 
Because the other returns were done and a 6 year delay might not be looked upon too favourably?
 
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