Additional Tax Liability

Posted 24 February 2019 under Tax Q&A

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Emmanuel says:
12 February 2019 at 18:17

Based on the requirement to file self assessment return, would I be liable to additional tax?

TaxTim TaxTim says:
13 February 2019 at 9:32

This depends. Where you have additional taxable income that have previously not been subjected to tax, you will be required to remit any additional tax due. However, you may also have over-remitted tax and as such, the tax authority will carry out an audit of your records and refund any overpayment as applicable.