Double check HMRC calculations, taxpayers told

Date: 13th July 2011

Taxpayers around the UK could be tempted to seek the assistance of a specialist accountancy service following the recent advice from one industry body.

The Low Income Tax Reform Group (LITRG) has claimed that taxpayers need to double check HM Revenue & Customs' (HMRC) calculations when receiving letters form the department.

John Andrews, chairman of the organisation, said that even in cases where taxpayers are offered a rebate, the calculations will only be as accurate as the data held on HMRC's computer.

"Last year, LITRG helped countless taxpayers to decipher and deal with their PAYE tax calculations. Now we hope to do the same for calculations issued for the tax year which ended on 5 April 2011, starting with people who receive tax repayments," he commented.

"It is important that people contact HMRC if their refund is too big, as well as if it is too small. If HMRC repay you too much and you don't tell them, you could be charged a penalty if they think you were careless in not spotting it."

Posted by Jacob Williams