Need Help With PAYE Coding Notices?
The recent PAYE debacle has been widely reported and it is understood around ten million workers could be affected!
So what is the problem and why is it happening now?? Broadly, HM Revenue & Custom's new PAYE computer system has calculated that millions of people have underpaid tax. As a result, HMRC are issuing tax calculations (Forms P800) to persons affected. If you receive a P800 HMRC have given guidance which can be found using the following link:
Alternatively, you can speak to a tax advisor for help.
The starting point is, of course, to check the accuracy of the calculation.
It is also useful to know that by concession, if you provided HMRC with all the relevant information and they have failed to "make proper and timely use" of this, the tax may be waived.
If you think you need our assistance, please get in touch and remember an initial consultation is FREE!
The above is for general guidance only. Buick & Co Chartered Tax Advisers take no responsibility for this blog, its reliability and any action you may take as a result of having read it.