Taxman may accept recession as excuse for late tax payments

Posted by Gina Dyer in Finances on Tue, 02/02/2010 - 22:08

Entrepreneurs submitting late tax payments to HM Revenue and Customs (HMRC) may be able to use the recession as an excuse.

The development follows a recent tax tribunal case in which judges accepted the economic downturn as a "reasonable excuse" for a business owner not paying his taxes on time.

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