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Original poster

Forecast

4 replies

Misty8498 · 10/09/2024 06:32

I'm wondering if anyone can help does anyone know how much per year you would be charged for 50k tax avoidance.
also does anyone know if HMRC give a forecast rather than an exact figure
O

OP posts:
Loveautumnhatewinter · 10/09/2024 07:15

I don’t think they give a forecast as such, but I might be wrong. I made a mistake with my tax and wrongly didn’t declare some interest I hadn’t physically received. I thought I only had to declare it once I’d received it which was incorrect - it was a complicated situation. This continued for a few years. When I realised my mistake, I contacted HMRC with the amount I should have paid each year, along with interest and suggested an offer, which they accepted. I paid them around £95,000 in total.

My advice would be to honest with HMRC and deal with it. I’ve been told they’re a lot ‘nicer’ if you’ve alerted them rather than if they find out and have to come to you.

Good luck.

Original poster
Misty8498 · 10/09/2024 07:55

How much did you owe before interest?

OP posts:
Original poster
Misty8498 · 10/09/2024 07:57

Loveautumnhatewinter · 10/09/2024 07:15

I don’t think they give a forecast as such, but I might be wrong. I made a mistake with my tax and wrongly didn’t declare some interest I hadn’t physically received. I thought I only had to declare it once I’d received it which was incorrect - it was a complicated situation. This continued for a few years. When I realised my mistake, I contacted HMRC with the amount I should have paid each year, along with interest and suggested an offer, which they accepted. I paid them around £95,000 in total.

My advice would be to honest with HMRC and deal with it. I’ve been told they’re a lot ‘nicer’ if you’ve alerted them rather than if they find out and have to come to you.

Good luck.

How much did you owe at the beginning

OP posts:
Loveautumnhatewinter · 10/09/2024 09:02

I can’t remember off the top of my head. In the figure we repaid, we also calculated and offered a ‘fine’ for the late payment, which they accepted.

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