There are more than a million of us in the UK who are paying the wrong amount of tax, thanks to the taxman. £157 million was overpaid to the Revenue last year, according to the National Audit Office (NAO). 540,000 of us – that’s over half a million – were overcharged, but still others were undercharged, the latter totalling £125 million in the same period.
The NAO attributes the staggering level or errors to the fact that many people change jobs so frequently and this makes the calculation more complicated. But it doesn’t end there. Correcting the mistakes will cost both the Revenue and the tax-payer time and money, as well as unnecessary stress. Unexpected tax demands will come as a shock, particularly to vulnerable groups such as pensioners, who are likely to be the most severely affected.
Matthew Elliott of The Tax-Payers’ Alliance commented that “This report demonstrates yet again that the tax system is becoming too complicated and taxpayers who do not have the money to afford top accountants are getting tied up and ripped off by the taxman….It’s the complexity of the system that’s trapping people, so it needs radical reform.”
At TaxFile in Tulse Hill, South London you can drop in to see one of their tax advisers and, for an affordable fixed fee, they will sort your tax out for you and relieve you of the stress and uncertainty. TaxFile bridge the gap between you and the taxman. They level the playing field. They specialise in one thing; tax, and do not charge the higher fees normally associated with swishy accountants.