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Tax Tip

HMRC Launch new video

February 2012

HM Revenue & Customs (HMRC) has launched a video on YouTube which highlights how inaccurate or incomplete employee information can effect the tax records of employers and employees alike.

Every year, HMRC receives thousands of employer returns, containing the details of millions of employees, including names, dates of birth and National Insurance numbers. While the vast majority of the employee data is correct, in some cases it is not.
For example, a recent study of employer returns found that 128 staff were entered as Mr, Ms or Mrs Dummy, while 824 employees had the surname “Unknown”.
Another 40 employees, according to their dates of birth, were aged over 200. Many other employees had their forenames and surnames swapped around, or their first names replaced by initials, which can make it more difficult for HMRC to identify the individuals.
Oliver Reeve of the Payroll Department of ABDS says:

“It’s really important to have accurate employee information for PAYE returns, otherwise wrong or inflated tax codes, or tax demands are the inevitable result for both employees and employers. If you are in any doubt, or find the burden of payrolls too much, contact us for assistance.”

The video can be viewed on the YouTube website at http://bit.ly/xVazur

If you need any help and advice with your Payroll or Tax compliance, contact ABDS to discuss how we can help.

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

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