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You have had a letter from HMRC

HMRC letter expalined

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So you have received a letter and you do not know what it is for and what to do with it? Here is Mazuma’s handy guide to the most common letters:

HMRC Self Assessment Tax Return:  Early April you will receive your tax return, no need to call us just include it in your monthly purple envelope to Mazuma or file it away for your own records, as we use our own copies so we do not need your copy.

HMRC Self Assessment Late Tax Return Penalty Notice:  This means that HMRC did not receive your tax return by the 31st Jan deadline.  If you have sent it then it is an error their end.  Contact your local HMRC office and tell them the date it was submitted online or sent to them and inform them that you did send it before the deadline.  If you are not sure please contact Mazuma to find out when your tax return was submitted.

HMRC Self Assessment Statement of Account:  This shows how much you have paid HMRC and what you owe HMRC.  Please keep this for your own records or send to Mazuma for us to put on your file.

HMRC Inland Revenue Payslip:  This is sent to you so you can send your cheque for PAYE and NI to HMRC.  If you pay by BACS monthly you can disregard this.  These are often sent out as a reminder notice – make sure you pay your PAYE and NI by the 19th of the following month.

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HMRC P35 Annual Return:  If you are an employer you will receive your annual returns and a payroll pack around late March.  Mazuma do all this for you so you can just send this to us with your purple envelope.

HMRC Corporation Tax Notice to Deliver a Company Tax Return:  This is a notice to send in your Corporation Tax Return.  As your agents Mazuma will receive one, so file this away for your records or send to Mazuma in your monthly envelope.

HMRC Corporation Tax New Company Details:  When you first register a limited company you will need to complete this form and send it back straight away.  If you are unsure on any of the questions, please complete as best you can and then send to Mazuma in your monthly envelope and we can help you.

HMRC Corporation Tax Payment Reminder:  You receive this letter as a reminder when it is near the date to send in payment for your Corporation Tax bill.  Remember this is 9 months and a day after your filing date, e.g. if your accounting period ends 31st March it is payable the following 1st of Jan.  You can use the pay slip to send off with your cheque to HMRC and file the letter.

HMRC Companies House Annual Return Reminder:  You will receive this to remind you to get your annual return filed in order to keep your company registered with Companies House.  Make sure you do this by the date specified otherwise you will get a £100 fine.  You can do this online here and it will cost you £15.  Any problems completing it please contact Companies House as they can give you support over the phone.

HMRC VAT Return:  When you receive your green VAT return, pop it over to Mazuma in your monthly purple envelope as soon as possible.

HMRC VAT Surcharge notice:  If you do not submit your returns on time for VAT, you will receive a yellow surcharge notice from HMRC demanding payment.  They will estimate your payment that you should make and will then charge interest on their amount until you pay it in full, or submit your VAT return along with any payment due.  Ensure your VAT return is completed on time to avoid ever seeing this letter!

If Mazuma are your registered agents we will get copies of letters from HMRC sent to us when you receive your copy so if anything is urgent we will action it for you.  If in doubt, please send to us in the post, or scan and email it to us, and we will advise you accordingly.

Leave your tax to the experts and concentrate on the finer things in life

If you have the time, knowledge and experience and are super organised then managing your tax shouldn’t be a problem. If however you’d prefer to concentrate on the finer things in life and leave your tax to the experts then get in touch with Mazuma.

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