LITRG releases tax credits advice

LITRG releases tax credits advice

Guide issued with advice on how taxpayers should challenge tax credit overpayments

The Low Incomes Tax Reform Group (LITRG) has released a guide aimed at
helping taxpayers through the process of challenging tax credit overpayment
decisions by HM Revenue & Customs.

Victoria Todd, of the LITRG and author of the guide, said: ‘In the last 12
months I have been involved with cases where overall some £150,000 has been
written off by HMRC after challenge. These sums were originally confirmed by
HMRC as payable, even in some cases after being taken up by an MP.

‘To challenge successfully you have to know the rules and what I have tried
to do is to set out a logical way of approaching the problem. I hope it enables
claimants, who have done everything they could to comply with the rules, to end
up being fairly treated by HMRC.’

The amount outstanding in tax credit overpayments at April 2008 was estimated
to be £1bn.

Further Reading:

HMRC
gets tough on R & D credits for SMEs

MoD
accounts qualified after £268m payroll error

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In 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 resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In 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 resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The 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 resource