Soldato
- Joined
- 4 Aug 2007
- Posts
- 22,006
- Location
- Wilds of suffolk
I can't find that this has been discussed here so a new thread.
It seems that most of those in receipt of misselling monies have been paid the interest gross and either told to pay a certain amoutn of tax to the tax man or have just been given the money and nothing said.
I can see most people chosing to ignore this and hope they get away with it.
Will the tax man get the records so they can go directly after the people or will they rely on honesty?
This isnt a how can I get out of the tax thread as I have never taken a loan or anything that could be construed as mis-sold.
To my mind it would have been a hell of a lot easier to just get the financial companies to do the tax and pay it over at basic rate. Let the higher rate payers do the top up as part of their return, which a high percentage will of course do and the non tax payers claim it back.
It seems that most of those in receipt of misselling monies have been paid the interest gross and either told to pay a certain amoutn of tax to the tax man or have just been given the money and nothing said.
I can see most people chosing to ignore this and hope they get away with it.
Will the tax man get the records so they can go directly after the people or will they rely on honesty?
This isnt a how can I get out of the tax thread as I have never taken a loan or anything that could be construed as mis-sold.
To my mind it would have been a hell of a lot easier to just get the financial companies to do the tax and pay it over at basic rate. Let the higher rate payers do the top up as part of their return, which a high percentage will of course do and the non tax payers claim it back.