Who is responsible for tax codes?
Further to our recent blog on the proposed changes to an extra statutory concession I have been looking at the possible implications. One key issue seems to be that HMRC will expect you to take responsibility for checking your tax code to make sure that this is correct. If you do not and hence the tax paid by you is wrong – even if HMRC has the information to have issued the correct code in the first place – there will be no possibility of mitigating any tax underpaid. One other point to bear in mind is that HMRC no longer issue copy notices of coding to your tax advisers.
It may be reasonable to expect people to look at their code number and check for basic errors but it is not really reasonable to expect people to understand the complexities involved in having two or three different sources of income. One other issue is how do you get a code changed? If the answer is to call HMRC it is to be hoped they do something about their call centres and reduce the time people have to wait just for the phone to be answered!
Date: 22nd August, 2012
Articles from this Author
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
Some myths and some tips on keeping your tax affairs in good order - Tax on Cryptocurrency UK… twitter.com/i/web/status/9…
Tax & Trusts Senior - current vacancy. A new opportunity has arisen for a to support our busy Tax and Trusts Manage… twitter.com/i/web/status/9…
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole