I am a higher rate tax payer, on PAYE, with no other income apart from some interest accrued from savings. What tips the balance before I have to do a self-assessment form?
2006-10-17 21:58:35 · 6 answers · asked by Dolphin76 3 in Business & Finance ➔ Taxes ➔ United Kingdom
Basically, what tips the balance is when the taxman sends you the form.
This will normally be triggered by you receiving any significant benefits, expenses, going self-employed, or having income outside your work.
Once in, you're usually in for life.
2006-10-17 22:08:13 · answer #1 · answered by gvih2g2 5 · 0⤊ 0⤋
These forms can be computer generated, i used to get them because i used to be self employed, if you are PAYE get in touch with the phone number on the top of the form , and tell them so, that should hopefully stop them.(in about 12 months)
i had to go to my local office and show all my paper work ( which i had kept)the forms stopped, and i got a rebate
2006-10-17 22:13:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Normally if you are self employed or a company director.
2006-10-17 22:17:01 · answer #3 · answered by Gerard McCarthy 2 · 0⤊ 0⤋
TAX????? buddy you cant run away from that. just do the right thing and remain with your freedom. We all are paying through our noses and cant do anything about it.
2006-10-17 22:14:30 · answer #4 · answered by sweetyp 2 · 0⤊ 0⤋
You have to do a self assessment if you're not on P.A.Y.E.
2006-10-17 22:28:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
when you get caught
2006-10-17 21:59:56 · answer #6 · answered by michael b 5 · 0⤊ 1⤋