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I was speaking with someone about two weeks ago about just this. The Revenue reckoned he owed them £30K. He hired some very expensive accountant, and he ended up getting £40K back!.
That's all very well, but it's really annoying when you go that route and the expensive accountant just says... nah, you're fooked.
I've just claimed tax relief at the higher rate on pension contributions for the last few years. Due to be getting a cheque for £150+ soon. Worth writing a couple of letters.
I've just started getting another company's correspondence from HMRC being sent to my address. Despite having informed them on 3 separate occassions, the mail keeps coming.
If they are so f*****g useless, why the hell should I trust them when they tell me I've underpaid?
The irony of it is that mail intended for the other company is to inform them that they've overpaid and are due a refund
I had a similar problem with HMRC and the Insolvency service when they linked me
to another company operated by a director with the same name and same age.
apprently he had committed large scale VAT Fraud approx £2M and then dissappeared so they then
thought it was me and started chasing me with very threatening letters etc.
I was about to start instructing solicitors when I decided to get the alleged
companies details from companies house and then noticed the date of
birth was different, that's what got me of the hook, if they had checked that themselves it would have saved a few sleepless nights.
This is one of the benefits of doing your accounts yourself and dispensing with the services of an accountant; by understanding your accounts you'll know where HMRC have screwed up.
I've just started getting another company's correspondence from HMRC being sent to my address. Despite having informed them on 3 separate occassions, the mail keeps coming.
If they are so f*****g useless, why the hell should I trust them when they tell me I've underpaid?
The irony of it is that mail intended for the other company is to inform them that they've overpaid and are due a refund
You might even get away with just ignoring the letter/demand altogther - laugh if you like but I know somebody that this has workd for ...
I've just started getting another company's correspondence from HMRC being sent to my address. Despite having informed them on 3 separate occassions, the mail keeps coming.
If they are so f*****g useless, why the hell should I trust them when they tell me I've underpaid?
The irony of it is that mail intended for the other company is to inform them that they've overpaid and are due a refund
Then I realised that it was a payment on account, and that they would probably come for the extra 169 sometime in the future.
You can apply to have payments on account figures reduced if you think you're going to be earning less than they calculate. Though if you do it on purpose to delay tax payment they charge interest on the amount underpaid.
Had this kerfuffle when I first started contracting, self-employed direct to the client until the client realised they may be liable for certain taxes, so encouraged me to go Ltd .
Since I went Ltd my self-assessment based personal tax liability is usually a few quid at worst, so they don't bother me anymore.
I was speaking with someone about two weeks ago about just this. The Revenue reckoned he owed them £30K. He hired some very expensive accountant, and he ended up getting £40K back!.
I suggest you check the figures are correct by going through your paperwork for the years mentioned and talking to your accountant asap
Only been with my current accountant for 18 months & they say they can't really help as this is something that goes back a few years. Got the paperwork somewhere but it's all Greek to me - guess I'll have to pay someone to go through it for me.
What sticks in my craw is that they've come up with this figure & have given me no time at all in which to pay up. Like I said, this whole episode has unfolded during the 2 weeks I was on holiday.
I have a mate who is currently in a fight with them as they have got her tax figures wrong and the staff are being as unhelpful as possible. She apparently owes them £125 but they owe her something like £2,000.
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