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Money Matters: What to do when the taxman cometh

Regulars | By ​Margaret Dibben


‘Do I have to fill out a tax return this year, now that the interest on my savings is paid gross?’ asks Oldie reader Mary, from Cumbria. Previously, basic rate tax was taken away before you received interest payments – but, last year, banks and building societies started paying interest without deducting tax. Mary suspects she ought to fill out a tax return to declare her modest interest, but complains that she cannot find an address to write to or phone number to call.  The Revenue is pushing everyone into completing tax returns online these days, which is convenient for those who are comfortable using computers but ifficult, or even impossible, for others. Even people who use a computer are often unhappy about sending financial informatin over the internet. Local tax enquiry centres, where you could talk face to face, have all been closed down. Probably Mary does not need...


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