HMRC offers funding for employee tax refunds
HMRC has acknowledged that the tax code changes for the new 2008-09 personal allowance due to be processed in September may cause some cash-flow problems.
HMRC has stated that initially employers should net any refunds against other PAYE deductions in September but, where these are insufficient to cover the refunds, employers may apply to HMRC for funding to cover the balance.
Full details of how to make a claim are given on http://www.hmrc.gov.uk/employers/payefunding.htm.
Date: 1st September, 2008
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