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Latest news om HMRC Tax Calculations

As you may know, HMRC revealed that 1.8million people had underpaid tax in the last 2 tax years through errors in their PAYE codings, and an even greater amount have overpaid for the same reason. HMRC have been issuing what is called a P800 tax calculation, to a limited number of people so far, over the last week or so. Media hype has been rife about this, telling us that the average underpayment could be £1.4k!

The latest is there is to be a concession made by HMRC, whereby anyone owing less than £300 will NOT got a P800 tax calculation (as it appears HMRC are prepared to write this off). However, it is expected that this will save only 90,000 taxpayers out of the 1.8million due to get these demands.

I would like to reiterate that anyone reeceiving a P800 from HMRC should really have it checked, and this is something I can do for anyone that asks. My charge for checking P800 calculations is £40 per calculation.

 

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