HMRC Inquiry and moving overseas

[mrdoe]

Hi everyone,

The HMRC is asking me for bank statments to verify I have not taken interest from my overseas bank account into the UK. However, I am leaving to move back to oz in a months time and was wondering if i need to continue replying to them and give them the info, or if i can just write them a letter and say "i'm going - cya later"....?? or just leave and not even tell them? can they investigate me when i am not living here anymore? or ask the oz government to do so?

I have not taken the interest into the Uk, but only have a few statements i have kept over the years and do not want to go to every bank i have had in the last 6 years and pay for statements.

many thanks!

[malvolio]

Get proper advice from someone qualified to give it - but there are reciprocal tax arrangements between UK and Oz so walking away isn't necessarily an option...

[NotAllThere]

First, you should keep all records relating to tax for seven years. Australia probably has the same rules, so you'll do it in future won't you?

Yes, they can continue to investigate, and yes, the Australian tax authorities will cooperate to an extent. Depending on the sums involved.

How many bank accounts are you talking about? And how much interest? And actually how much will it cost? ( Talk to the bank(s) - they may have a reasonably cheap solution for you ).

You could try talking to the tax inspector and telling him that it will take you time and money to prove that you haven't a liability. He may agree a one off payment of tax, that'll be less than the costs of getting the info. It'd be worth paying it, even if you've no liability, just to get the tax man off your back for good. When I emigrated, I got a UK tax demand for £800 (which I owed), + £40 interest. The interest was because of a delay in me receiving the demand, because HMRC sent it to the wrong address, even though they had the correct address on file. I decided to cough up, as £40 to never hear from them again seemed worth it. ( I could have appealed to the special commissioners, which would have meant them coming over here... ).