PAYE reconciliations show sharp improvement
Around 1.2 million people underpaid PAYE in 2010-11, down from 15 million the previous year
Around 1.2 million people underpaid PAYE in 2010-11, down from 15 million the previous year
PAYE RECONCILIATIONS have shown a sharp improvement from last year, HM Revenue & Customs officials have said.
The number of people receiving repayments for the 2010-2011 tax year will be between 1.7 million and 3.5 million; they will receive less than last year’s average repayment of £340, a Revenue official told Accountancy Age.
Around 1.2 million people have underpaid tax, with an average underpayment of between £500 to £600. These numbers will be clarified following further review in July.
Last year, it was revealed that up to 15 million taxpayers were affected by problems moving to the new National Insurance and PAYE Service computer system. This resulted in an estimated £2bn underpaid and £3bn overpaid tax revenue.
HMRC is said to be more optimistic this year and there is a feeling there that the systems have genuinely improved.
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleAccountants with contractor clients must take practical steps in an attempt to fly under HMRC’s radar Read More...
View articleAre taxpayers aware of their self-assessment obligations before they come to you? In a consultation due to close shortly, HMRC is looking at whether t...
View articleATT technical officer, Emma Rawson, takes a look at HMRC’s new call for evidence which explores potential reforms to how and when individuals with pro...
View articleTax managers warn of complexities in HMRC’s WFH tax allowances Read More...
View articleHMRC has experienced an increase in its revenue due to further investigations in the year 2018/19. Read More...
View articleLast year, HMRC imposed a record £860m in penalties on individual taxpayers, up 24% from £694m in 2017/18, according to accounting group UHY Hacker Yo...
View articleThe Low Income Tax Reform Group believes the government should have included tax initiatives in its plans for disabled people and employment Read More...
View article