- Reaction score
- 1,512
I never want to get on the wrong side of the Tax man, I'd rather overpay than have them chasing me for money, I just read that they can go back 20 years now, and I think it used to be 7 years, and I also read in todays paper that they are going to be coming down on all kinds of tradesmen and starting investigations into people they think are working cash in hand (doing homers) so no doubt they will start pestering everybody who is in the construction trades....
They can't 'come down hard' if you pay what you owe!
Is there some vendetta going on between you and Revenue & Customs?
I'll say what I always say on these forums, I just want to stick to the facts and not opinion and myth.
What you posted regarding registering for VAT and then having to pay for the previous 12 months is absolutely not true, why don't you read the information and admit you were wrong, for the benefit of everyone reading this thread in the future?
Do you believe that once you hit the high rate of income tax that you are then taxed at 40% on everything you earned in the previous 12 months?
It's a similar principle and just as silly!