HMRC - 2023-2024 - Tax Returns?

Gazanimal said:
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.
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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.
 
Worthy said:
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.
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I got £160 back, not even enough to pay for the service if my car.
 
Semple said:
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.
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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.
 
Pudney said:
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.
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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.
 
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
 
blairw said:
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
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Pfft, madman - leave it low, bank it, then pay it back when they ask :)
 
Couple of grand back for me this year but my wife's went up a couple of K on our personal returns so all about square. What was a real kicker was the increase in corporation tax I had to pay last month. Over £13K more than last year!
 
2hrs on phone. 55mins b4 first answer, guy couldn't answer the questions I had. Put through to another sept which took another 45 mins then I was done in 15 mins. Processed my 23/24 refund. Advised I could amend my 22/23 form and write a letter for 20/21 and 21/22 years.
 
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wowsers, sounds like some positives with the refund though... probably the worst time of year for them also
 
Well that was a quick adjustment. Extra refund of £589.40 for the 2022/2023 pension tax relief coming my way on top of 23/24 relief of £974.60. Still got to send my letter for 20/21 and 21/22 years. Hopefully see a good return too.
 
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