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Reworking of 2016-17 Returns.
HMRC has confirmed that it will review and rework up to 30 000 self-assessment returns for 2016-17 filed online if it considers that its tax calculator may have computed the individual’s tax liability incorrectly.
Problems arose with that year because of the many returns that were subject to an exclusion due to HMRC’s software miscalculating the tax liability (as mentioned by Tim Good in ‘That knowing look’ Taxation).
HMRC plans to start reworking computations on 19 November. When the tax position has changed the individual will receive a new SA302 calculation.
If any extra tax is due the individual will have 28 days to pay before interest and late payment penalties apply.
After an individual’s return has been reworked any further amendments to the return must be submitted on paper not filed electronically.
Agents also need to be aware that HMRC has decided against sending copies of the...
