Declaring interest earned on savings on tax return

[DimPrawn]

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?

[NotAllThere]

I do.

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

[DimPrawn]

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?

[rootsnall]

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.

[ratewhore]

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

[AtW]

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.

[DimPrawn]

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

[miffy]

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

[NotAllThere]

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.

[DimPrawn]

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.