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

Advisers sound alarm on £442m wasted on LoA inefficiencies

Advisers sound alarm on £442m wasted on LoA inefficiencies

Regulator should play ‘proactive role’ in addressing LoA inefficiencies

Sahar Nazir
clock 17 May 2024 • 5 min read
Feel Good Friday: Firms who made the Best Places To Work 2024 list

Feel Good Friday: Firms who made the Best Places To Work 2024 list

The Sunday Times’ research on the employers who meet key metrics

Professional Adviser
clock 17 May 2024 • 1 min read
Advice firms need to adopt 'operational excellence'

Advice firms need to adopt 'operational excellence'

‘Operations roles are critical to driving business success’

Isabel Baxter
clock 16 May 2024 • 2 min read