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Where Taxpayers and Advisers Meet

How much info can the tax office find on

mouseal
Posts: 5
Joined: Wed Aug 06, 2008 3:28 pm

Postby mouseal » Mon Aug 22, 2005 5:45 am

can they find how many cars u have and how much u payed for them ? Also can they find shares in your name
thanks

deanshepherd
Posts: 1019
Joined: Wed Aug 06, 2008 3:23 pm

Postby deanshepherd » Mon Aug 22, 2005 5:49 am

Yes.

They can ask you how many cars you have and how much you paid for them and they can ask you what shares you own.

;-)

mouseal
Posts: 5
Joined: Wed Aug 06, 2008 3:28 pm

Postby mouseal » Mon Aug 22, 2005 5:52 am

If i dont declare them can they find them?

mouseal
Posts: 5
Joined: Wed Aug 06, 2008 3:28 pm

Postby mouseal » Mon Aug 22, 2005 6:02 am

should i declair all cars and shares i have a car in my name but is not mine its in my name because the insurance is cheper will they beleve this?

deanshepherd
Posts: 1019
Joined: Wed Aug 06, 2008 3:23 pm

Postby deanshepherd » Mon Aug 22, 2005 6:08 am

I think you need to expand on your question a little to get an answer.

You say you have a car in your name to save on insurance - how does this impact on your tax position? Why would the Revenue even want to know what cars you own?

Again, why would they want to know what shares you have? Are you a higher rate taxpayer? Do you think you have underpaid tax in some way?

mouseal
Posts: 5
Joined: Wed Aug 06, 2008 3:28 pm

Postby mouseal » Mon Aug 22, 2005 6:36 am

sorry i am under investigation i dont know why
they want details on cars i own on the statment of personal liabilities if i do not put down the one i do not own but is in my name will this cause problems ?

deanshepherd
Posts: 1019
Joined: Wed Aug 06, 2008 3:23 pm

Postby deanshepherd » Mon Aug 22, 2005 6:42 am

Ah I see.

I would say that it probably should not be included on your statement because although the vehicle is registered in your name you do not 'own it'. You are effectively holding it on trust for someone else.

I would be very surprised if the Revenue tried to contact the DVLA to find out if you own any further vehicles.

mouseal
Posts: 5
Joined: Wed Aug 06, 2008 3:28 pm

Postby mouseal » Mon Aug 22, 2005 6:51 am

Thank you for your comments

pallet
Posts: 49
Joined: Wed Aug 06, 2008 3:25 pm

Postby pallet » Tue May 16, 2006 11:35 pm

Just remember the inspector may have called round and taken notes of registrations no. and would contact DVLA if case warranties it but as stated you can be the keeper but not the owner. You should also be aware the more you tell them the more they have to twist Good luck


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