Re: savings income below 10k, how taxed?

In an earlier contribution to this discussion,
Ronald Raygun <no.spam@xxxxxxxxxxxxxxxxxxxxx> wrote:

Roger Mills wrote:


From the IR's point of view, getting it right within a few pounds is
infinitely preferable to having the costs of processing millions of
additional returns.

What's a few million extra returns when they're already geared up to
processing ten of millions?

I doubt it! With a population os (say) 60 million, how many of those are
taxpayers, and how many of those which are taxpayers get asked to complete
tax returns?

From an individual point of view, the PAYE system usually errs in
their favour by a few quid - so why have the hassle of filling in a
return just for the pleasure of paying a bit more to the IR?

Because it cultivates our sense of responsibility.

I doubt whether Joe Public sees it quite like that!
--
Cheers,
Roger
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