This Content Was Last Updated on November 5, 2015 by Jessica Garbett
HMRC’s new computer system is about to gear up for yet another round of reconciliation on taxpayers accounts. They will finally merge taxpayers records that have previously been kept 12 separate databases. This will mean that some individuals will be due repayments but others will have underpayments assessed.
The exercise is due to start in late July, with repayments being issued in August and Setpember and underpayment notices going out in December. If you receive a repayment, please let us see it so that we can check the figures. Even though the system is now more up todate and apparently efficient, we still need to double check their figures as, if it later turns out you mistakenly received a repayment, HMRC will insist on it being repaid. And if you receive an underpayment letter there may be ways to have it reduced or even completely discharged.