Undeclared income interest to hmrc

Undeclared income interest to hmrc

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If a higher income tax payer does not inform the Hmrc of interest he has earned and that has been taxed at 20% what are the likey santactions he will face. My partner was not aware she had to declare the interest she has ernt once she became a higher tax payer. This relates to the past 3years and approx £80 is owed for each year. She phoned the Hmrc helpline and they advised she is looking at fines of up to £1000 and possible audit. Is this possible

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By K81
22nd Jun 2015 14:16

possible audit?

...who was she talking to?

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By JCresswellTax
22nd Jun 2015 14:18

Ha ha

The maximum fine is likely to be £80 and there is no way she will pay that much!

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