even if you are higher-rate tax-payer you do not necessarily need to fill out a tax return form. It's normally only if you are both a higher-rate tax-payer AND have more than one source of income (more than your PAYE source) e.g. significant savings/investment income which is usually taxed at standard rate at source, a second job, property income, pension income etc etc
When I became a higher-rate tax payer they asked me to fill out a form every year for about 10 years until it dawned on them it probably cost them more to process my form than they got from the additional tax I paid on my limited savings. So they sent me a letter effectively saying "please don't send us another tax return unless we ask you to or unless your circumstances change". Suits me!
See, sometimes governments do act sensibly! (only took them 10 years to notice!)
Slashdot Mirror
even if you are higher-rate tax-payer you do not necessarily need to fill out a tax return form. It's normally only if you are both a higher-rate tax-payer AND have more than one source of income (more than your PAYE source) e.g. significant savings/investment income which is usually taxed at standard rate at source, a second job, property income, pension income etc etc
When I became a higher-rate tax payer they asked me to fill out a form every year for about 10 years until it dawned on them it probably cost them more to process my form than they got from the additional tax I paid on my limited savings. So they sent me a letter effectively saying "please don't send us another tax return unless we ask you to or unless your circumstances change". Suits me!
See, sometimes governments do act sensibly! (only took them 10 years to notice!)