From: "Roger Mills" 
Newsgroups: uk.finance
Subject: Re: savings income below 10k, how taxed?
Date: Fri, 18 Aug 2006 20:43:24 +0100

In an earlier contribution to this discussion,
Ronald Raygun   wrote:

> Roger Mills wrote:
>
>>
>> Why? If standard-rate taxpayers' affairs are straightforward - and
>> they don't have lots of capital gains, etc., the PAYE system makes a
>> perfectly adequate job of extracting more or less the right amount
>> of tax.
>
> For one thing, why settle for "more or less the right amount"?
> For another, filling in a tax return is a useful way of getting the
> taxpayer to make formal declaration of the fact that he has no
> undeclared "on the side" earnings,

Are you writing from the point of view of the IR or as an individual 
taxpayer?

From the IR's point of view, getting it right within a few pounds is 
infinitely preferable to having the costs of processing millions of 
additional returns.

From an individual point of view, the PAYE system usually errs in their 
favour by a few quid - so why have the hassle of filling in a return just 
for the pleasure of paying a bit more to the IR?
-- 
Cheers,
Roger
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