HMRC's Payment On Account System Glitches
Self-assessment statements are wrong both on and off line ...
POSTED BY ROGER EDDOWES ON 07/05/2019 @ 8:00AM
HMRC has been upgrading its IT systems, but things go wrong. It's Payment On Account system had a glitch recently ...
If you think HMRC's Payment On Account system has got your self-assessment statement incorrect, give me a call!
copyright: chrisdorney / 123rf stock photo
This meant that a number of taxpayers were not informed of the amount of tax to pay on account by 31st January 2019 and they're not able to fix this before 31st July.
In January, they were experiencing a number of computer problems which included problems with the tax demands for Payment On Account (POA). This happened both online and with the paper statements they send out.
"Unfortunately, it wasn't limited to just the 2018/19 tax year!"
For anyone who pays more than £1,000 in income tax per year, this Payment On Account is important. It applies to most self-employed individuals as well as many company directors.
HMRC has realised this is a real problem for them and have said that anyone affected should contact their accountant who should deal with it for them, or directly if they do self-assessment themselves. They have said that they will put it right eventually, and no-one affected will be charged any additional interest.
Some people have made a voluntary Payment On Account, however, the HMRC computer automatically repaid it, so it's an interesting risk. My advice? Deposit everything you think you owe HMRC (including any POA) into a savings account and pay it in January 2020. At least you'll get a little interest out of HMRC's own mistake.
"Would you like to know more?"
If you think HMRC's Payment On Account system has got your self-assessment statement incorrect, then do give me a call on 01908 774320 or click here to ping me an email and let's see how I can help you.
Until next time ...
If you're looking to work with a leading firm of accountants, then why not visit our website which you can find at www.essendonaccounts.co.uk and let's see how we can help you!
More about Roger Eddowes ...
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves ‘getting his hands dirty’, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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