Reply to: Letter from the INLAND REVENUE!

[tim123]

YES - Thanks to Labour - they can now have access to our personal financial details and can obtain it with ease.

Actually it was an EU directive that created this situation.

tim

[HairyArsedBloke]

I have just received a letter from the INVAND revenue ....

I don't anymore
And I'm luvin it.

[Cyberman]

I'm with Brookson and, still being a bit wet behind the ears when it comes to tax returns, I use the Tenon service to complete my return. There wasn't anything to shout about on my form for my NatWest current account, as the interest on that was literally just a couple of quid or so. Tenon didn't enter that figure anywhere on the form as far as I could see.

My savings are all in the mortgage offset account, and my understanding is that there is absolutely nothing to declare on the SA tax return as there is technically zero interest on such an account.

That is correct. The reason that I had a large amount of savings interest to declare was that I held all of my savings in high interest accounts until my offset mortgage had been arranged.

[Trev16v]

Same here !! All of my savings are held in an offset mortgage.

I'm with Brookson and, still being a bit wet behind the ears when it comes to tax returns, I use the Tenon service to complete my return. There wasn't anything to shout about on my form for my NatWest current account, as the interest on that was literally just a couple of quid or so. Tenon didn't enter that figure anywhere on the form as far as I could see.

My savings are all in the mortgage offset account, and my understanding is that there is absolutely nothing to declare on the SA tax return as there is technically zero interest on such an account.

[Cyberman]

I don't think he can see your posts. HTH.

At least, you, my little cuddly friend, are reading them.

[pmeswani]

I told them that yesterday !! Perhaps they should take me off the ignore list !!

I don't think he can see your posts. HTH.

[Cyberman]

[QUOTE=EternalOptimist;759449]

If you have a bank account in the UK that has earned interest you will have had the tax element of that interest deducted automatically.

What's the problem?
QUOTE]

It will be the higher rate slice that they are after

I told them that yesterday !! Perhaps they should take me off the ignore list !!

[EternalOptimist]

[QUOTE=Churchill;759303]If you have a bank account in the UK that has earned interest you will have had the tax element of that interest deducted automatically.

What's the problem?
QUOTE]

It will be the higher rate slice that they are after

[Cyberman]

Will I also need to get certificates from Post office income bond accounts? After all they have only asked for bank and building society accounts.
I've been told not to tell them everything - however I've also been told that honesty is the best policy

Cheers

If they have asked for stuff I would be reluctant to hide anything. Their fines can be very nasty..... 100% of tax owed I believe.

[notescontractor]

Will I also need to get certificates from Post office income bond accounts? After all they have only asked for bank and building society accounts.
I've been told not to tell them everything - however I've also been told that honesty is the best policy

Cheers

[MarillionFan]

I have an offset bank account and therefore dont have any interest to pay

[Churchill]

If you have a bank account in the UK that has earned interest you will have had the tax element of that interest deducted automatically.

What's the problem?

Unless of course you're doing a "Lester Piggott"...

[Cyberman]

Shares in ISAs and cash all in accounts offset against my mortgage. Gordon Brown, Alastair Darling, HMRC you can kiss my

Same here !! All of my savings are held in an offset mortgage.

[BrilloPad]

I have just received a letter from the INVAND revenue saying that i did not declare interest income on my 2006-2007 tax return. They have now asked me for a list of all bank accounts that i held during this period. They have also asked for certificates confirming the interest received during this period.

Is this something to be worried about? The letter states that they hold information which suggest I should have paid tax. Can the IR see what I have in my bank account?

Has anyone else experienced something similar to this before and what was the outcome.

Thanks again.

Happened to a friend of mine. His wife and children were sold into slavery : and he spent the rest of his life in prison sharing a cell with bubba.

[Alf W]

Shares in ISAs and cash all in accounts offset against my mortgage. Gordon Brown, Alastair Darling, HMRC you can kiss my