+ Reply to Thread
Page 1 of 4 1 2 3 ... LastLast
Posts 1 to 10 of 32
  1. #1

    Richer than sasguru

    DimPrawn is good enough for Jehovah!

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    http://www.ukip.org/splash?splash=1
    Posts
    26,291
    Thanks (Given)
    0
    Thanks (Received)
    16
    Likes (Given)
    1
    Likes (Received)
    36

    Default Declaring interest earned on savings on tax return

    Does anyone actually do this?

    I know a few people with sizeable wads of money in the bank who are higher rate tax payers and they never declare the interest earned and nothing ever seems to come of it. Does the tax man know or care?

  2. #2

    The Angel of Deaf

    NotAllThere has more data than eek

    NotAllThere's Avatar
    Join Date
    Aug 2007
    Location
    Far away from HMRC
    Posts
    11,796
    Thanks (Given)
    30
    Thanks (Received)
    76
    Likes (Given)
    52
    Likes (Received)
    185

    Default

    I do.

    Or rather, I did. Now I get the interest gross, because I'm non-dom.
    --drunk on power--

    If a 'religion' is defined to be a system of ideas that contains unprovable statements, then Gödel taught us that mathematics is not only a religion, it is the only religion that can prove itself to be one. --John Barrow

  3. #3

    Richer than sasguru

    DimPrawn is good enough for Jehovah!

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    http://www.ukip.org/splash?splash=1
    Posts
    26,291
    Thanks (Given)
    0
    Thanks (Received)
    16
    Likes (Given)
    1
    Likes (Received)
    36

    Default

    How did you get the non-dom status? Were you or your father born outside of the UK and are all the savings held offshore?

  4. #4

    Super poster

    rootsnall has no reputation


    Join Date
    Jul 2005
    Posts
    2,906
    Thanks (Given)
    0
    Thanks (Received)
    0
    Likes (Given)
    0
    Likes (Received)
    0

    Default

    I declare it ( or the bits I haven't lost the paperwork to ). It would be dead easy to catch people as it's all against your NI No but our useless lot !?! In Oz I left a few dollars off, got an automated letter a few weeks later, pay up or else, I did.

  5. #5

    Super poster

    ratewhore has no reputation

    ratewhore's Avatar
    Join Date
    Sep 2005
    Location
    The dark disturbing corner of your mind
    Posts
    4,751
    Thanks (Given)
    0
    Thanks (Received)
    0
    Likes (Given)
    0
    Likes (Received)
    0

    Default

    I delcare about two pounds a year on my personal savings. No problems so far from Mr tax man...


  6. #6
    AtW
    AtW is offline

    Banned

    AtW has more data than eek

    AtW's Avatar
    Join Date
    Jul 2005
    Posts
    36,582
    Thanks (Given)
    3
    Thanks (Received)
    55
    Likes (Given)
    51
    Likes (Received)
    127

    Default

    Quote Originally Posted by DimPrawn View Post
    Does anyone actually do this?
    Always. The UK banks take away tax anyway, so HMRC must have got some clues already about names of people who had tax taken off the interest they earned.

  7. #7

    Richer than sasguru

    DimPrawn is good enough for Jehovah!

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    http://www.ukip.org/splash?splash=1
    Posts
    26,291
    Thanks (Given)
    0
    Thanks (Received)
    16
    Likes (Given)
    1
    Likes (Received)
    36

    Default

    Has anyone ever been "investigated" on a personal level into the details of a tax return?

  8. #8

    Contractor Among Contractors

    miffy is too good to be a permie

    miffy's Avatar
    Join Date
    Oct 2007
    Location
    Back from the cosmos
    Posts
    1,133
    Thanks (Given)
    0
    Thanks (Received)
    7
    Likes (Given)
    0
    Likes (Received)
    7

    Default

    Quote Originally Posted by DimPrawn View Post
    Does anyone actually do this?
    I started putting it down when I got my first self assessment form as a permie.

    I kinda wish I hadn't bothered now though. They know I have a decent amount of savings now
    Eat Right, Exercise, Die Anyway.

  9. #9

    The Angel of Deaf

    NotAllThere has more data than eek

    NotAllThere's Avatar
    Join Date
    Aug 2007
    Location
    Far away from HMRC
    Posts
    11,796
    Thanks (Given)
    30
    Thanks (Received)
    76
    Likes (Given)
    52
    Likes (Received)
    185

    Default

    Quote Originally Posted by DimPrawn View Post
    How did you get the non-dom status?
    I emigrated. I'm non-domiciled, non-resident, non-ordinarily resident. And I don't visit the UK very often or for very long.
    --drunk on power--

    If a 'religion' is defined to be a system of ideas that contains unprovable statements, then Gödel taught us that mathematics is not only a religion, it is the only religion that can prove itself to be one. --John Barrow

  10. #10

    Richer than sasguru

    DimPrawn is good enough for Jehovah!

    DimPrawn's Avatar
    Join Date
    Jul 2005
    Location
    http://www.ukip.org/splash?splash=1
    Posts
    26,291
    Thanks (Given)
    0
    Thanks (Received)
    16
    Likes (Given)
    1
    Likes (Received)
    36

    Default

    Quote Originally Posted by NotAllThere View Post
    I emigrated. I'm non-domiciled, non-resident, non-ordinarily resident. And I don't visit the UK very often or for very long.
    Your domicile is generally where you were born (or where your father was born), regardless of where you live now and for how long.

    A lot of people confuse domicile with residency.

+ Reply to Thread
Page 1 of 4 1 2 3 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Content Relevant URLs by vBSEO 3.6.0 ©2011, Crawlability, Inc.