Whether it’s a simple typo or forgetting details, errors can slip through the cracks. When it comes to your tax return, these mistakes can feel monumental, especially after the deadline has passed. However, amending your tax return can be an option, depending on the timing and the type of error.
Why Might You Need to Amend a Tax Return
Mistakes happen for all sorts of reasons. Here are some common ones:
- Forgetting to include untaxed income
- Typing errors in your figures or details
- Incorrectly entering your name or address
- Missing out on invoices or other supporting documents
- Realising you have paid too much or too little tax
Regardless of the reason, you need to correct any and all errors promptly to avoid penalties or complications.
Amending a Self Assessment Tax Return
Within 12 Months of the Deadline
The good news is that you can make amendments to your Self Assessment within 12 months of the deadline. For instance, if your 2022/23 Self Assessment was die by 31st January 2024, you have until 31sy January 2025 to make corrections.
Here’s how to amend your tax return online:
- Log into your HMRC account
- Navigate to “Self Assessment account”
- Click “More Self Assessment details”
- Select “At a glance” in the left-hand menu
- Choose “Tax return options”
- Select the tax year you want to amend
- Make the necessary corrections and resubmit.
If your changes involve income or invoices, your tax bill may change. Be sure to check the updated amount.
After the 12 Month Period
If it has been more than a year since the deadline, the process becomes more manual. You will need to write to HMRC, providing specific details:
- The tax year you are amending
- The error and why it occurred
- How much you believe you have overpaid or underpaid
- Your signature
You can send your letter to:
Self Assessment
HM Revenue & Customs
BX9 1AS
United Kingdom
If you are claiming overpayment relief, you must include evidence showing you paid the tax and confirm you have not submitted the claim before. HMRC has the right too reject late amendments, so make sure your letter is clear and complete.
Amending a Company Tax Return
Within 12 Months of the Deadline
For company tax returns, you have up to 2 years from the end of the accounting period covered by your return to make amendments. Therefore giving you a 12-month window from the filing deadline.
To amend a company tax return, you can use:
- HMRC’s online filing service
- Commercial software
- Paper submissions
If you choose to file by post, ensure you address it to the Companies Tax office listed in your original paperwork.
After the 12 Month Period
After the 12-month period, you must send amendments through the post. However, HMRC will reject digital submissions after this point. Additionally, be specific in your corrections and provide any supporting documentation that explains the changes.
What Happens After You Submit an Amendment
Once you have submitted your amended return, HMRC will update your tax bill. Here’s what you can expect:
- If You Owe More Tax – Your updated bill will include the new payment deadline and any interest or penalties due.
- If You’re Owed a Refund – HMRC will process your repayment, usually within 4 weeks. If you amended online, you can request a refund directly through your HMRC account.
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