Tax Rebates & Refunds

Keep an eye on your tax payments because the HMRC is not infallible

September 27, 2011
Posted in Tax Rebates — Written by Jennifer

People often think of the HMRC as being an infallible organisation because it deals with matters that it is so important to get right. However, this is a little bit naïve. The HMRC is just as prone to errors as any other organisation. The difference is that on a personal level, any mistake can have quite severe consequences.

In some cases, mistakes are made that see people pay less tax over the course of the year than they are supposed to. This is something that often goes unnoticed until the numbers are checked for that particular year. This may take another two or three years and the findings of the assessment may result in a letter being sent out demanding the shortfall. It’s easy to imagine the frustration this can lead to.

In other circumstances, the HMRC collect too much tax from you in a given period of time. It is up to you to pay close attention to your outgoings to make sure you are paying precisely the right amount of tax so that you don’t get left out of pocket at the time or at any time in the future. If you notice you have overpaid, organise to have a tax rebate. If you notice you are paying too little, it is wise to notify the relevant authorities.

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