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HMRC Issue New Simple Assessments

Posted 10/10/2017

Simple Assessments - Check it if you get one and I'm here to help...

It might not come as much of a surprise to many that a new government announcement meant to simplify processes, actually winds up making them more complicated.

Now HMRC’s new ‘Simple Assessment’ for tax has come under fire for making it more likely people will overpay tax.

The Simple Assessment is a new system where HMRC will use data it already holds to calculate how much tax a person owes and send them a bill, meaning those people won’t have to fill out a self-assessment form.

Initially, Simple Assessment will be used for two groups.
Firstly, people who pay tax via PAYE, have underpaid and can’t have the extra tax taken through their tax code. Secondly, new state pensioners whose income is more than the personal allowance.

These groups will start receiving tax calculations through the post in the next few days and weeks.

Where problems arise

If you are happy with the amount stated then you pay the bill but, if you aren't, you have 60 days to contact HMRC and dispute the amount.

Sounds simple enough, but leading accounting and tax advisory groups believe it is going to lead to chaos.

The problem is you are relying on HMRC getting its sums right. and that is not always the case by any means.

No-one should assume the figure is correct so you still need to review the return and if you find it is incorrect you only have 60 days from receiving it to appeal. This 60-day appeal window sharply shortens the period of time people have to gather the information needed to accurately complete their tax returns, as generally under self assessment you have nine months after the end of the tax year to put together your information and check that HMRC have everything.

You will now receive a calculation from HMRC at some point, and will then have just 60 days to check it, get any further information from their employers or banks, to then agree or go back to HMRC with amendments. 

I'm here if you need any help so don't hesitate to contact me.

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