Following on from our previous reports regarding errors being dug up at HMRC
, news broke today that as a result of errors/'backlogs' within the tax system, six million people are to receive an average £400 tax refund whilst just over a million people are facing an average £600 tax bill.
Mistakes/'queries' going back to 2001 reveal 2.5 billion pounds worth of overcharging. HMRC will counter this with a 720 million pound clawback of underpaid tax.
You will either receive a cheque refund, face a cash demand or have your tax code adjusted to pay back gradually.
The installation of a new computer system revealed these adjustments and HMRC are adamant the adjustments are not due to errors, but rather old queries and backlogs that have been expedited by the new system.
If you are worried about your liability and have your income details, you can re-calculate your tax at www.uktaxcalculators.co.uk
using a number of helpful tax tools, including:
- Multiple income tax wizard
- PAYE / Self Employment Calculator
- Payslip calculator