Outstanding Tax Review Forms (P810 (T))

Essex123

I'm not sure if this is the right forum, but can someone help me?!

HMRC have been sitting on my P810 forms for 2006/7 and 2007/8 for over a year and a half and over 9 months respectively. I pay PAYE tax at 40% which my employer takes care of. However I have some bank interest which I anticipate I will need to pay extra tax on. In previous years, this had been collected through adjustment of my tax code.

At the end of last year I spoke to HMRC and they said they had a backlog of these forms and couldn't tell me how long it would be until they were processed. I'm getting slightly worried because more and more time is passing and I might owe them money.

Does anyone have any suggestions?

If I do owe them money, am I going to end up paying fines and interest due to their exceptionally slow service?

Any help appreciated!

System

If they coded your bank interest in the past then usually they leave a deduction in your code. If you don't contact them yourself to tell them the deduction is no longer accurate they then regularly issue a P810. This is every 3 years or so.

Check your current tax code as they may already have a deduction in place and so you may not owe them as much as you think you might. If there isn't a deduction in your code then obviously you may owe more. However this is PAYE and so no interest will be charged and no penalties will be imposed.

suso

P810's are being stockpiled at various offices, as Pam says check your code to see if they are using an old figure for B/BS interest, if its inaccurate give them a call in a few weeks to give a better figure.

It may be that the amount in your code might be too high with the drop interest rates

If you do owe tax, there will not be any interest or charges added, and they will collect it in your code over the course of a year.