.png)
.png)
It needs fixing
Key points
- HMRC’s allocation of a client’s payments caused unfair interest charges.
- The allocation of payments can be illogical and agents lack the facility to correct them.
- This is an HMRC systemic issue which needs fixing.
I confess that for some years while interest rates have been low I have not been checking HMRC interest calculations in detail. Most of my small collection of clients pay on time; when one of them has missed the deadline by a few days the amount has been too small to make auditing worthwhile. However occasionally something seems so wrong in principle that I have to argue about it – on my own clock rather than the client’s.
The starting point
I have a client who received generous self-employed income support scheme (SEISS) and local authority support taxable in 2020-21 and 2021-22. Her business did not appear to be...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
