CC1

From Taxation Interventions Register

One of the roles of HMRC is to help customers get their tax returns right, so they pay the right amount of tax or receive the right benefits.

We are testing new ways of working with customers which we believe will be less time consuming and less complicated than other procedures we use. Your participation in this trial is voluntary and this is not a notice of intention to enquire under our existing formal powers. We feel that these new approaches will help customers to deal with any mistakes quickly and get their tax right now and for the future.

Your Bank or Building Society normally deducts 20% tax from the interest you earn, but because some of your income may be taxable at the higher rate of 40%, you may have to pay additional tax on your interest.

We believe that you have received taxable interest from a Bank or Building Society that you do not appear to have told us about. As someone who may be liable to higher rate tax you must tell us each year how much interest you receive.

Please contact me within 30 days:

• to let me know if you believe that your returns are correct; or
• to let me have full details of any errors or omissions. You may find the enclosed form useful for this purpose. You can use the ‘other income’ section of the form to tell me about any other source of income you have not previously notified to HMRC.

If we do not hear from you within 30 days we will make an assessment to collect the amount that we believe is due. If you do not agree with the assessment additional information enclosed with the assessment will give details of how you can appeal against it.

We will then send you a revised Self-Assessment statement with details of how to make a payment. If there is anything you do not understand or would like to discuss, you are welcome to ring me on the above number.

Where our records show that you have appointed a representative a copy of this letter has been sent to them.