Consumers pay £1bn for tax return errors

UK taxpayers will pay over £1.1 billion in fines to the Inland Revenue this year when dealing with their tax returns, Research from IFA Promotion reveals. Of this figure, as much as £975 million or 89%will be paid simply because miscalculations were made on tax forms. Findings highlight the difficulties faced by taxpayers attempting to pay their tax bill. Since self-assessment's inception in 1997, there has been a steady rise in the number of late returns, with 971,000 deadline defaulters last year alone. This upward trend is set to continue following the issue of increasingly b...