G-G
Senior Jockey
I am nearing the end of a year long argument with them about my tax code: they changed mine based on an assumption of interest earned ( I have some money from selling my maisonette which needs to be reinvested rapidly, anyway) , they have basically overcharged me and owe me a refund, which I have been trying to tell them for a year. I have had to point out that they cannot add up, that interest rates on savings plummeted during last tax year and basically that they can't add up.
One of the flaws in the system to emerge was that the banks apparently report how much money you have but not their interest rate for the current tax year, so HMRC assume the same rate of interest is being paid from year to year. Why they assume this I have no idea, and it is up to the bank to correct their assumption. One of my communications includes ' how are they, the banks, supposed to know what has been assumed? I'm still waiting on a reply for that one.
Anyway, I have 'compensation' coming, plus a refund ( which is still wrong and I am on at that them again ) but what I would say is , if you even suspect your tax is wrong; a ) challenge it b) mark any communications 'complaint' and c ) I have direct number and email address of Complaints Department ( could not get through on the general phone, on hold for 4 hours all told ) so if anyone wants those details, please don't hesitate to ask.
One of the flaws in the system to emerge was that the banks apparently report how much money you have but not their interest rate for the current tax year, so HMRC assume the same rate of interest is being paid from year to year. Why they assume this I have no idea, and it is up to the bank to correct their assumption. One of my communications includes ' how are they, the banks, supposed to know what has been assumed? I'm still waiting on a reply for that one.
Anyway, I have 'compensation' coming, plus a refund ( which is still wrong and I am on at that them again ) but what I would say is , if you even suspect your tax is wrong; a ) challenge it b) mark any communications 'complaint' and c ) I have direct number and email address of Complaints Department ( could not get through on the general phone, on hold for 4 hours all told ) so if anyone wants those details, please don't hesitate to ask.