Episode Details

HMRC is proposing to crack down on “careless errors” on tax returns, potentially fining taxpayers up to 30% of owed tax—even for honest mistakes—marking a major shift from punishing only deliberate fraud. While intentional errors could still face steeper penalties, the new rules could catch unsuspecting taxpayers who lack advisors or misunderstand complex rules. A safety net exists: if you catch and fix your error quickly after HMRC flags it and have no prior notices in six years, you might avoid a fine. But ignoring it could trigger harsher penalties, even looking back up to 20 years. These proposals are still in consultation until September, with HMRC aiming to encourage cooperation and simplify corrections.

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