Self Assessment personal tax return

HMRC to review 30,000 tax returns

Having identified that their calculations may have contained an error, HMRC has announced that it is set to review the tax returns of around 30,000 individuals, to address concerns that some may have been overcharged.

The issue is believed to be isolated to tax bills issued in 2016/17 and specifically relating to the personal savings and dividend allowances. The Revenue will be carrying out the review during November and will contact any individuals that received an incorrect tax bill. However, whilst those that have overpaid will receive a rebate, as with any tax review, there may be some for whom tax was underpaid and HMRC intends to issue new bills for those found to be owing money as a result of the revised calculations. Any additional tax found to be owing will have to be paid in 28 days before interest and late-payment penalties kick in!