Call us today

Revenue tests new trigger to increase the accuracy of PAYE codes

Get in touch today - call Kent on 01634 570 390 or Surrey on 01737 370 493

Book a FREE consultation

If you would like to get some impartial advice, simply book a free consultation and we'll get in touch with you as soon as we can.

Revenue tests new trigger to increase the accuracy of PAYE codes

HM Revenue & Customs (HMRC) is trialling a new trigger, which is intended to improve the accuracy of employees’ PAYE tax codes.

According to HMRC, as many as half a million tax codes being used by employers across the UK could be incorrect, leading to employees either overpaying or underpaying tax.

To address the problem, HMRC is making changes to dynamic coding, which began its rollout in July 2017.

Dynamic coding is designed to make use of the additional information HMRC is now receiving from employees and employers to recalculate pay estimates during the course of the tax year.

Now, HMRC is adding mismatches between its records and those of employers to the list of events that can trigger a recalculation.

As part of the initiative, HMRC is also placing a renewed emphasis on ensuring that employers complete new starter checklists properly and will be visiting the 100 worst offending employers when it comes to failing to complete the new starter process.

Link: HMRC trails new PAYE code trigger

Top

Urgent COVID-19 Notice
Working From Home

Our first priority is the health and well-being of our team and our community. Therefore, with a heavy heart we have made the decision to temporarily work from home with immediate effect.

We are listening to the government’s daily updates, taking each day as it comes, and will reopen our offices as soon as it is safe to do so.

If you have any questions or need to discuss any issues at all please do email or call us on our usual number 01634 570 390.

The general email is enquiries@orchardaccountants.co.uk.

We hope everyone is keeping well and staying safe.

This website uses cookies to enhance your browsing experience... moregot it