Very confused on whether i need to pay tax or not?

cheekykid

sloughflint wrote: »

Yes.
They don't. Your responsibility to advise them if not the case.
No.

If I don't advice them can I get busted for tax evasion? I mean how tight the checks are? If you make a mistake for £100 will their system immediately point ya out as tax evader? any idea how it works?

sloughflint

cheekykid wrote: »

If I don't advice them can I get busted for tax evasion? I mean how tight the checks are? If you make a mistake for £100 will their system immediately point ya out as tax evader? any idea how it works?

Check out the declaration you would be signing:

I declare that
• my income (or the saver’s income, if this form is completed
on their behalf) is below my annual tax-free income limit
and
• if it increases above the annual limit I will tell the bank or
building society straightaway.
I understand that HM Revenue & Customs may check the
information given on this form.