About six million people are set to receive tax rebates averaging £400, while another million will learn they have underpaid their tax by about £600.
Her Majesty's Revenue and Customs (HMRC) said letters would begin going out in the next few months, with those owing money able to pay in stages, according to the BBC. It is the second year tax and National Insurance discrepancies have been identified by a new computer system. HMRC said the number of cases would reduce "as the new system beds in". Those who will be told they have underpaid tax are expected to owe between £500 and £600 on average.
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