HMRC is facing accusations it cannot cope with the new 50p rate of income tax.
Although the new band for high earners came into effect in April, new PAYE codes have not been issued to thousands of professionals, according to the Telegraph.
The problem affects individuals with more than one job, whose combined earnings are more than £150,000, and they will face larger tax bills at a later date to recover the missed payments.
The news comes on top of the revelation up to nine million tax records held by HMRC may be wrong, with 1.4 million people facing the prospect of bills for incorrectly paid taxes from 2008 to this year.
Europe to keep closer eye on City
European single market commissioner Michel Barnier warns financial institutions in London will come under even closer scrutiny with the establishment of the European Single Market Authority.
The practice of short-selling will be particularly closely monitored, he tells the Telegraph, while the use of derivatives such as credit default swaps will also be clamped down upon, although neither will be completely banned.
However, he denies European authorities are focusing on British businesses and insists there is no battle between Brussels and the City.
UK economic competitiveness 'stifled'
High taxes, excessive red tape and mounting debts are holding back the competitiveness of the British economy, according to the World Economic Forum.
The think tank has moved the UK up from 13th to 12th in its global competitiveness league, although the country lies 133rd out of 139 for 'soundness of banks', the Daily Mail reports.
However, the nation ranked better for its efficient workforce, entrepreneurial spirit, innovative businesses and good access to the global marketplace.
S&P warns of home repossessions
A new wave of home repossessions could be on the way if the Government goes ahead with spending cuts and tax rises, Standard and Poor's warns.
The credit agency claims may families will find it increasingly difficult to make mortgage payments, the Guardian reports.
Property also remains overvalued while the average house-price-to-income affordability ratio for first-time buyers is also too high.
Public finance warning to eurozone members
Nations within the eurozone breaking rules on public finances could be temporarily excluded from Europe's political decision-making.
The warning comes from Jean-Claude Trichet, president of the European Central Bank, in an attempt to avoid another Greek-style economic crisis.
He tells the Financial Times tougher rules, backed by sanctions, are needed, although he dismisses any possibilities of countries being thrown out of the eurozone.
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