50% tax rate payers beware

50% rate tax payers beware…

HMRC have no present system for deducting tax at a flat rate of 50% from second or subsequent employments. The nearest tax code is DO that only collects tax at 40%.

As a result tax payers in this position will be underpaying tax through the PAYE system and should be prepared for an underpayment when they complete their annual tax return.

Beware bogus emails from HMRC

Scammers are capitalising on the recent publicity surrounding HMRC demands for unpaid tax and notification of refunds by sending out spurious emails that seek to obtain personal data and financial information by deception.

HMRC will never email you on any aspect of your tax affairs and all emails purporting to be from HMRC should be ignored. If you are due a refund or have underpaid tax you will be notified by post.

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