Member Article

Check your tax codes for HMRC errors

Newcastle based accountants Robson Laidler is warning that up to three million people that have more than one source of income potentially face backdated tax bills of £2,000 per year because of errors made by HM Revenue & Customs (HMRC).

Among those most likely to be affected are veterans who draw a military pension and have taken a civilian job after leaving the Armed Forces. Pensioners with two pensions and those who work part-time after retirement are also likely to be hit.

Graham Purvis, from Robson Laidler noted that problems typically arise because tax offices across Britain are failing to share information about taxpayers’ incomes. “Often when people have two sources of income, whether that’s from pensions, PAYE employment or a mixture of the two, there are two tax codes issued by separate HMRC offices because each acts on the information given to them by an employer, pension provider or the taxpayer. The mistakes are discovered by HMRC years later, leading to unexpected tax demands,” said Graham.

For more information please contact one of our specialist tax experts on 0191 281 8191 or visit our website.

The author is a partner in Robson Laidler Accountants, members of UK200Group with offices throughout the UK and Associates overseas.

This was posted in Bdaily's Members' News section by Robson Laidler LLP .