Looking for Advice (3 years undeclared income from CPA)

For 2013/2014 you are going to get stung with a bit of interest and penalties and have to pay a couple thousand probably on the £23,000 worth of income you earned.

2014 and 2015 won't be to much of a problem since it was last years taxes and its a pretty small amount. You should be fine and hopefully not get any penalties on that.

The best way to approach this is to hire someone to do your taxes for you that is reputable and have them sort everything out.

You do no need to go into detail about anything unless after you file your taxes they contact you back asking for additional information.

Don't worry about listing your websites etc. It is none of there business what your websites are and what you are doing. They just care that they get there cut of what you are earning. They know how much is being deposited into your bank, so they will be able to match things up.

Gather up bank statements of how much you earned extra from CPA ontop of your normal job income. It's just some extra boxes and areas of your tax sheet that the person you hire will have to fill out.

After a month or two you will get a thing in the mail saying exactly how much you owe for unpaid taxes. If you have penalties and fines, phone them up and explain your situation and they might be nice and be able to remove some of the penalties, fines and interest.

Don't stress to much, just claim the £23,000, £3,600 and £4,000 on the appropiate years, and then you will get a letter saying exactly how much you got to pay.

I can't predict how much exactly you will owe, but it will definitely in my estimation be under £5,000 in my opinion for those amounts for the 3 years.

Pay tax for last year only. See how it goes before declaring the other 2 years.

Prepare your anus

I imagine you'll have to complete a self assessment form, which in itself is a pain. If given in late (yours will be) you get fined. I know this because I've had to pay fines myself for something unrelated. Id go to the citzens advice first.

thanks for the input guys,

Tell HM Revenue and Customs (HMRC) as soon as possible if you’ve made money you need to pay tax on and haven’t told them about it. This could have happened because you: didn’t realise you needed to tell HMRC about it weren’t sure how to declare it didn’t declare it because you couldn’t pay the tax If you contact HMRC first, they may consider your case more favourably.

im gonna look for an accountant who can deal with this on my behalf. My only worry was if they saw CPA earnings as scamming etc... as a lot of people dont like that kind of work

You can register for Self Assessment to declare any income you haven’t paid tax on from the last 4 years. You’ll need to fill in a separate tax return for each year. You can also contact HMRC if you have questions. If you’re already registered for Self Assessment but haven’t declared all your income, you can make a correction to your return. If you’re employed or get a workplace pension, you can tell HMRC if you think you may owe more tax. Apologies for the 5 replies. All this information is from the HMRC website regarding paying tax on undeclared income.

is it easy to fill in tax returns or should i get an accountant on board to help with this?

also ive made some money on ebay selling personal items, but also some selling virtual goods. What is the deal with ebay sales? not made too much - maybe 1 - 2k total

Contact A Qualified Tax Professional/Accountant ASAP!

The worst mistake you can make is take advice from people on a forum who may not be qualified to give (And really should not be giving) advice....

I see your earnings in british pounds am from uk too probably you should go to advice bureau.