Nearly 1,000 victims of the Post Office scandal face an important tax deadline which is only weeks away.
Those who received compensation from the Horizon Shortfall scheme in the 2022/23 tax year will need to declare their payments by filing a Self-Assessment tax return by the end of this month.
However, HM Revenue and Customs (HMRC) has confirmed that any postmasters who are finding it difficult to meet the pending January 31 deadline due to late top-up payments will have any penalties or interest cancelled.
The tax authority has set up a dedicated team to give postmasters tax and anyone unable to pay their tax liability can arrange a payment plan.
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Those impacted by the Post Office Horizon scandal could get compensation
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An HMRC spokesperson said: “We’ve now published guidance and set up a dedicated helpline.
“We can reassure any postmasters struggling to meet the deadline for filing their return and paying their tax because of a late top-up payment, that any penalties and interest associated with this will be cancelled.”
The Horizon Shortfall Scheme (HSS) was created by the Post Office to compensate postmasters hit by the scandal.
While these postmasters were not subject to a criminal conviction, those impacted were able to get money back from the losses resulting from the Horizon system.
Due to the scheme’s design, original HSS compensation payments are subject to income tax and National Insurance contributions
Guidance on the Government’s website notes that anyone in receipt of compensation payments between April 6, 2022 and April 5, 2023 will have to pay these levies.
If someone has received a notice to file a Self-Assessment tax return for the 2022-23 tax year, the deadline is January 31, 2024.
Despite this looming date, support is available for any postmasters struggling to pay who were affected by the Horizon scandal.
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Some postmasters had to pay back the money the Post Office claimed was missingPAAccording to the Government’s website, those who not been contacted by HMRC to file a tax return by January 31, 2024 who got HSS compensation payments between April 6, 2022 and April 5, 2023, should contact the dedicated support team.
Those in need of assistance can call the HMRC’s helpline for postmasters on 0300 322 9625 between 8am to 6pm, Monday to Friday.
Furthermore, the Post Office is giving up to £300 worth in funding for independent tax advice to help Horizon scandal victims.
This can help postmasters file their Self-Assessment tax return before the important deadline.