You are here: Home - Uncategorized -

Staggered tax deadlines proposed

0
Written by:
07/02/2006

Taxpayers are “going to the wire” in filing their returns, resulting in a deluge of last minute self-assessment forms more open to processing errors by officials, according to MPs.

Edward Leigh, chairman of the Commons public accounts committee, has suggested that different types of taxpayer should be given different deadlines for their returns, in order to stagger the process more evenly throughout the year.

His committee has published a report showing that the Revenue and Customs agency made mistakes in processing almost 500,000 returns in 2004/2005.

People were undercharged for tax by £65m, while others overpaid to the tune of £30m. And 30,000 taxpayers were given incorrect penalty notices despite filing their returns on time.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Calls for interest rate cut

Retailers are calling on the Bank of England to lower interest rates this week, after the latest figures revealed the...

Close