Tuesday, September 07, 2010

Six million pay the wrong tax


Up to 1.4 million to be told they owe outstanding tax of up to £1,400

The taxman is to contact up to six million people to inform them they have paid the wrong tax. Many may face demands of an additional additional £5,000 while up to 1.4 million are expected to be told they will have to find another £1,400 to settle underpaid tax bills.

According to reports in the press over the weekend the errors were identified by a new computer system which found underpayments in the PAYE system totaling £2bn.

See full Article.