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HMRC calculation errors

It has been confirmed that, in six specific scenarios, HM Revenue & Customs have made errors within the 2016/17 tax calculations for individuals. The problem occurs in the main with the interaction of the Personal Allowance and the new nil rate bands for savings income and dividends.

Whilst we are aware of theses issues, and our own software (or Staffour staff) can in most cases calculate the correct amounts of tax due, we are unable to submit those Returns online as they will be rejected by the HMRC Revenue & Customs portal.

Until such time as the errors are addressed and fixed, we are advised therefore that the affected returns should be submitted on paper rather than online

Their HMRC’s earliest estimate of when the situation will be resolved is the end of October 2017.

For further information, please contact your local Rothmans office.

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