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

Mistake on my Tax Return

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 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; do contact us for an evaluation today!

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