HMRC - 2023-2024 - Tax Returns?

[Semple]

Probably so that HMRC don't have to go chasing people who don't pay when they should.

There would be quite a few more chancers who'd run up a huge tax bill and then disappear I'm sure.

Just paid my first self-employed tax bill a couple of days ago after the accountant worked it all out for me, was a less than I expected, so quite happy really.

Definitely this. The people we bought our house from did exactly this, under pay tax and then emigrated to Australia. I seem to recall when I opened up a letter from HMRC (who are really bad at acknowledging a no longer lives here return) they had a tax bill of about 180k!

I know they have parents that live in the UK, so no idea if they ever plan to return but I'm firmly of the opinion that when their parents die the taxman should get his chunk of unpaid income tax before they're even allowed to see it.

 

[Ben Cole]

I'm firmly of the opinion that when their parents die the taxman should get his chunk of unpaid income tax before they're even allowed to see it.

This is what I would expect to happen to me if I played that game.

 

[Raymond Lin]

I got £3000 back this year, lovely. What sucks is I know I’m going to owe them more than that next year so I’ve just stuck it to one side after I used £4 of it to buy some lube.

I got £160 back, not even enough to pay for the service if my car.

 

[Pudney]

Definitely this. The people we bought our house from did exactly this, under pay tax and then emigrated to Australia. I seem to recall when I opened up a letter from HMRC (who are really bad at acknowledging a no longer lives here return) they had a tax bill of about 180k!

I know they have parents that live in the UK, so no idea if they ever plan to return but I'm firmly of the opinion that when their parents die the taxman should get his chunk of unpaid income tax before they're even allowed to see it.

Australia and the UK are both participators in international agreements to enforce tax debts, so HMRC can ask the ATO to collect unpaid taxes from Australian residents and vice versa.

 

[dlockers]

I got £3000 back this year, lovely. What sucks is I know I’m going to owe them more than that next year so I’ve just stuck it to one side after I used £4 of it to buy some lube.

Lol

 

[Semple]

Australia and the UK are both participators in international agreements to enforce tax debts, so HMRC can ask the ATO to collect unpaid taxes from Australian residents and vice versa.

Ah that's interesting to know, maybe they didn't know this and thought by emigrating to Australia they'd get away with not paying the tax bill. If it was a few grand I'd say the cost wasn't worth pursuing, but this was a 6 figure bill so I really do hope it catches up with them.

 

[blairw]

You can update your expected earnings for the Tax year in the HMRC app which helps a lot when you’re on the higher rates. I got mine very close this year and only ended up owing them around 800 quid which can be taken via this years tax code as opposed to the 5k plus in previous years