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
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.’
Richard Le Tocq, head of Locate Guernsey, discusses the chancellor’s approach to high net worth individuals, and why relocation is increasingly attractive to HNWIs
The firm says that the U-turn 'does not alter the need for a fundamental review of the way we tax work' and that the current tax system is in need of reform
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals