SA Shelburne Accountancy Ltd
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HMRC Admits Tax Errors The National Audit
Office in their report of July this year into HM Revenue and Customs has
highlighted errors in the PAYE system. It estimated that 4.5 million individuals
have overpaid in total some £1.6 billion of tax and a further 1.5 million
individuals have underpaid in total some £400 million of tax for 2008-09 and
2009-10 tax years. Latest estimates
by HMRC say that the average underpayment is £1,400, some may be as much as
£5,000. Over the next few months, the individuals identified as under payers
will be sent a notification – do not panic, this is not a demand for payment.
Any error will be collected via an amended tax code next tax year, 2011-12.
If you do nothing this money will be taken from your pay automatically. The
repayment will reduce your monthly net pay by over £100 per month if you owe
the average amount. It could be over £400 per month, at the higher end. Most errors will
occur where people have changed jobs, have multiple jobs, or have retired,
possibly with a part-time job. If you fall into one of these categories you
are more likely to have a mistake in your tax code. On the flip side,
some people have overpaid by an average £400. They will receive a refund by
cheque. But either way, can you be sure that HMRC has got it right now? Call
or email us and we can investigate your case. There may be
errors going back further than 2008. There is a 6-year time limit on claims
you can make. That means anything before 2004 is now closed. It is therefore
imperative that you take action now. If you do not feel confident enough to
tackle HMRC yourself, contact us now and see if we can help. SCAM WARNING - HMRC
will NOT contact you by email; so do not fall for the email scams that
announce tax refunds due. Contact Shelburne
Accountancy, the personal service for small businesses |
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