| Income tax overpayments |
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| News - News in Brief | |
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Approximately 1m people are being advised to check their tax returns because of widespread errors by HM Revenue & Customs (HMRC). The National Audit Office recently said that in the 2006/07 tax year, HMRC miscalculated income tax in 5 per cent of cases, or 1m returns. Taxpayers underpaid by £125m, but overpaid by £175m. HMRC pay interest of only 3 per cent on overpaid tax against the 7.5 per cent it charges if you underpay. The average underpayment was £250, and the typical overpayment was about £290. If you require any further information about the services that we provide or would like to review your financial planning position, please contact us.
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| Last Updated ( Thursday, 08 November 2007 ) | |
News in Brief
| Advertising campaign aims to reunite savers with lost money |
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National Savings & Investments recently launched an advertising campaign to try to reunite its customers with £435m that is sitting in lost and forgotten accounts. |
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| Read more... |
| Income tax overpayments |
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Approximately 1m people are being advised to check their tax returns because of widespread errors by HM Revenue & Customs (HMRC). |
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| Read more... |
| Mortgage exit fees |
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Some lenders have a change of heart! Lenders have been reducing or even scrapping their mortgage exit fees prior to a deadline when they would have had to make their position clear on these controversial charges. |
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| Read more... |