HMRC tax review: one in five records could contain errors

clock

A fifth of all tax records held by HM Revenue & Customs could contain errors, an internal review has concluded.

Of the 45 million employment files held by HMRC, as many as nine million contain mistakes, according to the review. The flaws identified in the records came to light after thousands of taxpayers started to receive letters from HMRC relating to billions of pounds of tax paid incorrectly between 2008 and this year. According to reports, as many as 1.4 million people are facing demands to repay an average of £1,428. Disclosure of the possible extent of the errors has prompted calls for significant changes to the tax system. According to the Telegraph, an all-party group of MPs will to...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

WhatsApp for client communications gets tick of approval

WhatsApp for client communications gets tick of approval

'Easier to confirm meetings via WhatsApp than calling'

Sahar Nazir
clock 07 May 2024 • 1 min read
PA Asks: Do you think it is worth it for advisers to be Chartered?

PA Asks: Do you think it is worth it for advisers to be Chartered?

This week’s poll also looks at new clients and Consumer Duty

Professional Adviser
clock 07 May 2024 • 1 min read
Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Feel Good Friday: Brooks Macdonald gives sports wellbeing advice

Wealth manager has partnered with charity Sporting Wellness

Professional Adviser
clock 03 May 2024 • 1 min read