Tax Evader without even knowing it?

amcluesent

The government employs 100,000s of civil servants, some 'giving' in benefits and some 'taking' in tax. There would be huge savings in everyone have an 'account' with HMG, which was used for accounting the net position for all the gives and gets. However, it will never happen as it requires citizens to pass over all financial information to the government.

>i have never owned a house (council house),<

LOL. Higher rate tax-payer, but wangles a council house. Nice one, Cheers:beer:

p00hsticks

juicyjude wrote: »

The only income I receive now is from savings interest as I retired the beginning of April. I have registered for gross interest on my savings. Once (if at all) my income for this year 09/10 reaches £6,475 I will have to inform the tax office and will then have to register again for net interest. Is this correct?

If you believe your income over the tax year is going to be greater than your tax allowance you shouldn't have completed an R85 form to get your interest paid tax free - the R85 helpsheet takes you through the calculation and tells you whether you can or cannot submit the form.

If you aren't eligible to get your interest paid gross, you can reclaim any tax overpaid by submitting an R40 form at the end of the tax year.

Details here
http://www.hmrc.gov.uk/incometax/tax-free-interest.htm

ChiefGrasscutter

Cook_County wrote: »

Penalties may however be significantly reduced if the tax evader uses the amnesty to be launched on 1 September 2009 - the so-called "new disclosure opportunity"...

The New Disclosure Opportunity only covers undeclared income arising from offshore accounts/assets: which may or may not affect the situation in this case.

It is not a general amnesty.

Offshore account holders will be given one final chance to put their affairs in order and pay up including all fines and penalties and interest due.

Obi167

ALWAYS pay the TAX man, He is just about the only person (you know what I mean) that can swoop in and take what you owe him!