I have been very lax with this issue and now it is coming back to haunt me.
I left about 10k sitting in a CU account for the last 7 years in a regular share account. I did nothing with it and stupidly was not thinking about the tax liability on the interest/dividends accruing.
I now need to use the cash as I am building a house. But I want to settle what I need to with revenue.
I feel really really stupid I left this go. My only excuse is that I never did have to do any tax returns as I my employer did it for me and had no other extra earnings.
I am taxed on the higher rate.
Anyone know how I would go about this? Will I have to put in a form for each year. And what am I liable for 42%?