Tax reconciliation errors affect ‘thousands’

The lovely wibbly wobbly old lady

Reposted from Accounting Web

Oh dear…Real Time Information (RTI) the basta*d son of Universal Credit seems to be just as much of a balls up!

HMRC has “stopped” issuing income tax repayments after a leaked email revealed that end of year tax reconciliations for thousands of taxpayers may have been calculated wrongly, the Telegraph reported this morning. An HMRC spokesman told AccountingWEB that the process is “continuing as normal”. But the email, now reproduced below, said that some large employers were involved “so several thousands of employees may be affected”.

Elaine Clark, who runs the tax practice Cheap Accounting, said she understood that repayments for 2013/14 had been halted. “This concerns me enormously given that RTI was meant to correct all evils, all payroll information would be up to date and everyone would be paying the right tax. How can we get reconciliation errors? There has to be something in…

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