The allocation of HMRC payments has been a long-running headache for tax agents. In the transition to more digital services, the tax department attempted to resolve some of the problems by creating a set of reference codes to help taxpayers and agents specify the liabilities payments are intended to settle.
These attempts have not always met with success. In July, AccountingWEB members bemoaned the mysterious profusion of payment references coming out of the new capital gains tax online reporting mechanism, which appears to create three reference codes for each disposal: a CGT account number; a return reference number; and a third payment reference.
Register for free to continue reading
It’s 100% free and provides unlimited access to the latest accounting news, advice and insight every day. As well as access to this exclusive article, you can:
AccountingWEB’s Editor at large has been with the site since 1999, rising from news editor to editor in chief, global editor and head of insight. As a roving editor, he continues to investigate the profession's use of technology around the world. He devotes his spare time to technology history and an oddball collection of stringed instruments...