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23 Jul 2009
HM Revenue & Customs owes hundreds of millions of pounds to as many as 4.5m British taxpayers after allocating them with incorrect tax codes.
There were 20m queries about tax codes in March this year, up from around 16m last year, according to timesonline.co.uk
The National Audit Office estimates the department could be liable to repay £1.6bn to taxpayers who had too much tax deducted from their wages.
Angela Beech, head of personal tax at Blick Rothenberg, said: 'These figures are horrific. It is unbelievable that so many people have not paid the right amount of tax, and it is sometimes difficult for them to claim this money back.'
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Visitor comments Add your comment
I am not surprised!
There are so many people who just do not understand tax, and who can blaim them? They receive Tax Codes and countless numbers have no idea what they mean. The times I have been asked to unravel such situations, and have found errors going back years, resulting in quite significant tax repayments. HMRC still naively think that everyone understands Self Assessment and will respond if something is wrong - this is light years from reality! The Tax Self Assessment System needs simplification and a radical overhaul, but all we get is even more complexity! Whatever is said nothing will change!
Posted by: K J Stones FCCA FCMI, 30 Jul 2009 | 00:00