Quote:
Originally Posted by cozwemust
dear karen and all,
sorry to ask this again. do i really have to fill out tax forms so i dont have to pay tax on my uk internet savings account and cash mini isa which i am leaving here in the uk? coz i dont pay much tax with the isa anyway do i? i dont understand the tax thing at all and how it gets transferred to oz if i fill out the forms? is it not just easier to forget the forms? any advice please as i leave in 2 wks would be greatly appreciated.
thanks
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The forms go part of the way to show that you are leaving the country. It's obviously up to you what you do but I think that is the norm. If you are not sure why not ring up the tax office and get them to help - and yes they can be helpful at times!
We filled in forms to say that we didn't want to pay tax on bank accounts and on rental income. HMRC (Her Majesty's Revenue and Customs) then sent back an approval form saying you don't have to pay tax. Since we will still be earning in the UK (through rental income) we will still be filling in UK tax returns but as I understand it, not paying tax in the UK but in Australia. The amounts just get filled in on our Australian tax returns instead. I have yet to go through that part of the process since we haven't been resident for a tax year yet.
The forms are easy to fill in.
Unfortunately just because we don't understand tax (and who does?) doesn't mean we can ignore it.
Regards,
Karen