2016/2017 Amended Tax Calculations
HMRC are currently in the process of sending out amended tax calculations to a number of individuals for 2016/17.
These calculations are a result of it being identified that HMRC have previously advised all software providers (incorrectly) on how the dividend and savings allowances were to be allocated in calculating 2016/17 tax liabilities. HMRC has now subsequently changed their opinion resulting in either underpayments or overpayments.
If you have received an amended tax calculation recently, please contact us so we can advise you accordingly, as the Revenue are not sending a copy direct to Agents.
Penalties will not be applied in these cases, and interest will not be charged on any new amount payable, providing they are paid within 28 days of the date on the tax calculation.