Due to a failure by HMRC, millions of Britons could soon be opening a letter worded something along the lines of : “You owe Us Thousands”
People whom have seen a financial change in the last two years may have been paying less tax than they were supposed to. Now HMRC is trying to reclaim the amount which has been underpaid. It does work both ways however, some people are due money from the tax man and they will receive a payment of the over paid amount.
However there is a clause called A19 which can allow you to fight the tax man on this one. I am not an accountant of course so I wont attempt to explain this, I recommend if you have had a change in circumstances in the last two years, you speak to your accountant to find out if you can get away without paying the extra tax requirements.
References
The Daily Mail
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