Personal Tax

People who have found that HM Revenue and Customs’ online tax return website contains a mistake on the payment of self assessment tax through their PAYE codes have been given advice on what to do.

HM Revenue and Customs has announced that, as from 27 January, the rate of interest to be paid on money owing to taxpayers falls to 0 per cent.

Taxpayers, with tax owing of up to £2,000, are being advised that HM Revenue and Customs’ online tax return website contains a mistake.

Savers should be offered tax incentives as way of combating the poor returns currently being delivered by savings accounts, a leading banker has argued.

Self assessment taxpayers who are experiencing difficulties in meeting their 31 January tax bills can ask to delay payment.

Taxpayers are being reminded that they must file their self assessment returns online by 31 January if they wish to avoid a £100 penalty.

HM Revenue and Customs (HMRC) has said that more taxpayers now have the option to meet their bills by direct debit.

Raising the threshold at which people pay income tax could be one way of stimulating the economy, according to a senior MP.

Taxpayers have been warned to be on their guard against a phishing scam that offers the promise of a tax rebate.

People who encounter problems when attempting to submit their 31 January tax returns online have been given advice on what steps they can take to help avoid a late filing penalty.