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
22nd Jun 2015
2
Undeclared income interest to hmrc
Undeclared income interest to hmrc