There’s A Mistake On My Tax Return, What Can I Do? – TaxBack

from the blog.

Mistake on my Tax Return

There’s A Mistake On My Tax Return, What Can I Do?

Time to Enlist the Services of a UK Tax Agent!

Both you and HMRC can make mistakes on your UK tax returns; if you believe your tax returns to be inaccurate there are measures to be taken, as listed in this article. Also, consider obtaining the services of a qualified UK tax agent, to ensure the matter is settled to your best interest, as we at Taxback.com offer a professional service. Now, let’s get down to the matter of ‘mistakes on your tax return’.

If there is a Mistake on your Tax Return – Check Your Tax Code

In most cases, mistakes on tax returns are attributed to people being allocated the wrong tax code.

This can happen due to a change in your personal circumstances or you changing jobs during a tax year or when you do more than one job. Hence, if you feel your income tax is incorrect, the first thing you must do is check your tax code, or have our efficient tax accountant check it for you. 

Related Post: Changes to the 2018/19 Allowances, Exemptions and Tax Rates

When HMRC can Make Mistakes on your UK Tax Returns

If HMRC has made a mistake on your tax return, you can claim a rebate for all the money lost. The rebate depends on the following factors; 

  • The money lost is likely, out of pocket expenses, which can be identified easily, hence is reimbursed fast. Or even an expense that’s complicated and hard to prove which can occur with loss of business or a loss in your earnings.

Tax Return Mistakes You can make

If you have made a mistake while filling your tax return form, such as omitting to claim an allowance you are entitled to, and ended up paying too much on your tax return, you can correct the mistake within one year of filling it. 

Once you file the correction, you can still claim tax back within the next four years from the end of the tax year for which you are making a claim. This is applicable for both PAYE system tax payers and self-assessed tax payers.

Related Post: Claiming Taxes After Leaving The UK

There are Penalties for Incorrectly Filing Tax Returns

If HMRC thinks you have been misleading them or have been just careless, there is a system of evaluation after which you can be charged penalties for making mistakes on your tax returns. A pretty good reason to avail yourself of our professional services at Taxback.com; do contact us for an evaluation today!



Related Posts

The Ultimate Guide to Cheap Eats in London

A Creative Way to Use your UK Tax Refunds Living in London is expensive, but if you know how, it’s possible to enjoy your time in the bustling and exciting city, without draining the budget. If you didn’t already know,...

Hacks to Save Money on Europe Travel

When UK Tax Refund for Non-Residents Count With 28 countries, the EU is a pretty hot place for tourists to explore! If you are a student or foreigner working in the UK, your UK tax refund for non-residents can be...

How Do You Claim UK Tax Back?

Tax Refunds UK Explained! We all have to pay tax, it’s a fact of life, but did you know that there are times you may pay HMRC too much tax, which you can claim back. This article educates you on...

Leave a Reply

Translate »