Tax Payments..Beware!

Tweet
HM Revenue and Customs have issued two warnings to taxpayers about problems they are having with their systems. (Just two?!!-Ed)

If individual taxpayers need to amend a monthly direct debit payment plan on line, they should do so between 1st and 23rd of the month. Otherwise, a fault in the system could stop an amendment made in the last week of the month reaching the taxpayer’s bank. HMRC advise that full service will be restored in April 2011.

When paying PAYE deductions and Class 1 National Insurance contributions to HMRC, it is important to use the correct ‘payment reference’. If not, a confirmation of the transaction may be received from HMRC but the payment may be delayed or cancelled if HMRC cannot locate the correct reference.

To ensure your direct debit is accepted without delay, you can check on www.hmrc.gov.uk/tools/payinghmrc/paye.htm to obtain your 13-character ‘payment reference’. There are two capital letters in the reference that are case sensitive, so care is needed.

If you are in any doubt about your tax payments, please contact your usual adviser in the Ward Goodman Tax Team.

To find out more about any of these stories or Ward Goodman please contact 01202 875900