- Thu Jan 02, 2014 12:48 am
Happy New Year DD
Initially they trust that you will tell them, but if you 'forget to' HMRC do snitch on you!
Say you have declared income of £15000, and through HMRC you are paying tax on £24000, then if you haven't told the OR of the increase in income, when HMRC tell the OR, they WILL come a hunting!
Lets be fair if your income dropped and you had an IPA/O you WOULD tell the OR, so it is only fiat that when it goes up you should tell the OR.
And if they smell a rat, EVEN AFTER DISCHARGED the OR can reopen you case, by suspending your discharge, and they do!
Remember if your income goes up, then it is very probable that your expenditure will have gone up, so declare both!!