HMRC Error with Payments on Account for 2016/2017 Tax Returns

5th January 2018

IMPORTANT NOTICE FOR 2016/2017 TAX RETURNS

An error has been picked up within the HMRC tax return system that affects 2017/18 payments on account as reported on 2016/2017 tax returns.

We offer payroll services for all businesses

In certain instances (primarily where there is rental income, trust income or chargeable events certificate gains) the system is overriding the tax return and removing payments on account.

Currently, although HMRC is looking into the issue, it is not known how many individuals are affected or how long it will take to resolve the issue.

In the interim period, you should check any correspondence from HMRC, and if you detect this error, you or your accountant should contact HMRC and notify them of the issue.  They will then be able to refresh the tax return and reinstate the payments on account.

If you require any assistance with this issue as a TTRB client, please contact your account manager directly and we will do our utmost to resolve on your behalf.

 

Chartered Accountants in Sunderland, offering expertise on everything from Tax and Business Planning,
to Accounts and VAT.