HMRC has another go at getting it right
Apparently HMRC has recently realised that for the tax year 2016-17 its tax calculator incorrectly computed tax liabilities for approximately 30,000 taxpayers.
They will be starting a review on 19th November and will send each affected individual (but not their agent!) a new SA302 calculation where they find their computation needs to be corrected. Individuals will then have just 28 days to pay any additional tax before interest and late payment penalties kick in.
All affected taxpayers will be advised by HMRC to contact their Tax Agents and we are sure that most THP clients will likely do this as a matter of course anyway but we thought it best to put you on notice.
A further amendment may be due on receipt of these notices and we will of course be dealing with this for our own clients as circumstances dictate.
You have been warned and thank you for reading this blog!
Tax Advice with THP
Having trouble with your taxes? Contact us here today at THP, we offer a range of services to help from tax planning, tax returns and much more. With offices in Cheam, Chelmsford, Wanstead, Saffron Walden and London City.