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Self assessment and trusts: errors in HMRC calcs

Self assessment and trusts: errors in HMRC calculations

For trusts the calculation of the 16/17 balancing payment is wrong in HMRC's systems, and they are showing the liability as much higher than it actually is.  There is a team taking calls every day correcting the error.  However if you don't know there is an error they are not doing anything to tell you.  

Check everything very carefully this year.


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18th Dec 2017 11:38

Not sure I understand, how do you know this is occurring? Are HMRC sending out corrections to SATRs or wacky statements of account?

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18th Dec 2017 12:09

The false figures are shown on the HMRC online account and on paper statements we have received.

I've had this for two of the three trusts I deal with.
The Income Tax charge for one was about double what the Tax Return showed, the other was about three times (& was actually greater than the total income for the year).
Bizarrely though, the 2017/18 payments on account are for the correct amounts.
The third trust was unaffected, probably because it only had a CGT liability, not Income Tax.
As Jane says, they have a team working on it & my two cases have been "escalated".

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to Ronnie Stanley
18th Dec 2017 13:51

Oh dear!

When I get a minute after explaining to personal clients that HMRC have kindly left the 2017-18 payments on account off their statements, and yes they still have to pay them, I will take a look at mine. Thanks for the heads up.

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By K81
18th Dec 2017 16:09

I posted on this a week or so ago.
HMRC haven't let anyone know & although they are looking at a fix it appears that they don't know which trusts are affected until you tell them their calculation is wrong.

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19th Dec 2017 09:45

Checked online today. The tax figures for my two trust clients have been corrected.

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