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Tax Tip

Top Tax Man in a defiant mood. 09/12/11

Dave Hartnett, Permanent Secretary at Her Majesty's Revenue and Customs (HMRC), claimed media stories of blunders and IT failures were wrong.

He warned taxpayers owing £2,000 or more that it must be repaid. Once a self-assessment form was issued they would have just over three months to pay in full.
Speaking exclusively to Radio 4's Money Box programme, Mr Hartnett said: "I'm not sure I see a need to apologise."

He added: "I've read the papers listened to the media and heard stories of HMRC blunders and IT failure - neither of those are true."

He went on to add that 5.7 million letters that he would be sending out to taxpayers before Christmas were the result of a normal process of matching the tax deducted from each taxpayer with their circumstances.

He confirmed that 1.4 million people would be told they had extra tax to pay. Those owing below £2,000 will have the money deducted from their pay or pension over 12 months, or three years in cases of hardship.

Mr Hartnett added that this would apply to more than 80% of those who owed money, but that there would be tighter deadlines for those who owed more.

The figures:
5.7 million letters going out
4.3 million people - will get a rebate averaging £400.
1.4 million, will be told they have to pay the extra tax
Up to 250,000 could be asked for £2,000 or more.

Tonmoy Kumar, Manager of the Accounts Department of ABDS says:

“However, the government has also raised the level at which any under payments will be disregarded from £50 to £300, meaning 900,000 people due to pay extra tax will not have to.”

If you need any help and advice with your Tax Returns, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning and business advice.

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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