RMT CHIEFS have had to warn members to pay tax on windfalls from a union saving scheme.
Members can make up to £10,000 a year in dividends from the militant rail union’s credit union.
Union chiefs have told members to make sure they cough up tax, after it was revealed HMRC are cracking down on those who don’t pay up
But the RMT, plotting a series of crippling strikes over Christmas which start this week, has had to tell members to pay all tax after being alerted that HMRC were cracking down on missed payments.
Union chiefs have told members, including £59,000-a-year train drivers, to make sure they cough up tax.
Ironically the union is demanding a taxpayer funded 17.4% pay increase for its members as the Government battles to bring public spending under control amid the inflation crisis.
RMT has told members: “We have been advised that HMRC are tightening their procedures for ensuring that tax is ultimately paid, where appropriate.
“We respectfully remind all our members that, although dividends are paid gross, the responsibility remains with the member to declare such gross payment to HMRC, in case of liability to tax.
“We reiterate that it remains each member’s responsibility to declare to HMRC all dividends that they have received from us.”
The union pays out thousands each year in December to members who save money with its credit union.
Dividends from a Credit Union are treated like savings interest and are subject to the same income tax.
RMT tells its members: “The dividend is paid straight to your credit union account, normally December of each year.
“The maximum dividend paid out on your shares holding is £10,000.00, any shares after £10,000 do not receive a dividend.”
Tory MP Nigel Mills said: “This is very ironic.
“The public will soon be very fed up with the hypocrisy of the RMT.
“They are hell bent on causing as much misery as possible this Christmas.”
