‘Don’t bury your head over tax,’ NASDAL tells dentists

03 October, 2018 / infocus
 Scottish Dental  

The National Association of Specialist Dental Accountants and Lawyers (NASDAL) has warned against ignoring tax issues after HMRC revealed plans to introduce a new points-based penalty system.

The new approach is designed to tackle late payments by businesses and individuals for corporation tax, income tax and self-assessment.

As with the existing penalty regime, there will be a “reasonable excuse” get-out, but inability to pay and reliance on a third party are not reasonable excuses.

The changes illustrate the need to not bury your head in the sand

Heidi marshall

There will be a first charge determined by the number of days that have elapsed after the due date (up to 31 days) and whether or not a ‘Time to Pay’ agreement has been reached.

A second charge will become payable and will be calculated on amounts outstanding from day 31 after the payment due date until the outstanding balance is paid in full.

Heidi Marshall, Secretary of NASDAL said: “These changes illustrate the need for you or your accountant to be in communication with HMRC and to not bury your head in the sand or ‘hide’ from the debt if there any issues. As of yet, there is no date for the launch of the points-based system for non-VAT taxes or details of the rates at which the penalties will be charged, but watch this space.”

Tags: NASDAL / news / October 2018 / tax

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