The penalty for underpaying your taxes will be a little cheaper in the new year — although it remains relatively steep.

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From 1 April, movers will start paying tax on properties over £125,000, down from £250,000 ... including valid photographic ID and three months of bank statements, he said.

Way more paperwork, from tax returns to bank statements dating back several years, can be required. And then there's the fact most accountants will have tried down the years to lower your tax ...