Tax error letters started to arrive
The UK tax authorities have braced with number of inquiries after revealing the latest tax calculations. The first 45,000 tax payers of six million have been told that they have paid wrong tax and needed to be corrected.
The tax experts said the tax payers should consider the conditions for the extra amount of tax as the country is in a big economic trouble.
Meanwhile the HM Revenue & Customs department is trying to regain the 2 billion pounds of tax which was not paid in last two tax years and also trying to repay 1.8 billion pounds which was overpaid in the same period. The rest of tax calculation is set to be unveiled until the December or Christmas.
All the tax disputes started with a faulty computer system but now the whole system is replaced. In the new computer system there are different databases for tax payments and insurance payments and it will also highlight the area where the tax were overcharged or undercharged previously.
The repayments to 4.3 million tax payers will be worth around 420 pounds per head and will be paid in next year.