HMRC Overstated Income Estimate

RG2015

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

[Deleted User]

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

That’s pretty daft. My wife draws a SIPP with HL, payments twice a year. 

HMRC assumed monthly which was reasonable and rectified. 

No reasonableness here!

Dazed_and_C0nfused

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

RG2015

Dazed_and_C0nfused said:

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

The anomaly was noticed a few days ago. Hence the only reported payment between 4 January and 8 March was the single one on 4 January.

If they had assumed a daily pattern where were the 60 odd daily payments from 5 January to early March?

[Deleted User]

RG2015 said:

Dazed_and_C0nfused said:

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

The anomaly was noticed a few days ago. Hence the only reported payment between 4 January and 8 March was the single one on 4 January.

If they had assumed a daily pattern where were the 60 odd daily payments from 5 January to early March?

Unfortunately HMRC only act upon each subsequent RTI submission. In this case there were none. 

RG2015

[Deleted User] said:

RG2015 said:

Dazed_and_C0nfused said:

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

The anomaly was noticed a few days ago. Hence the only reported payment between 4 January and 8 March was the single one on 4 January.

If they had assumed a daily pattern where were the 60 odd daily payments from 5 January to early March?

Unfortunately HMRC only act upon each subsequent RTI submission. In this case there were none. 

This from HMRC on 6 March 2013.

From 6 April, employers will be required to move to a new way of reporting PAYE called RTI where they report each time they pay their employees, rather than annually. This updates the PAYE system so that it is quicker, easier and more accurate.

Certainly looks like a bug in the system. Has this happened to others I ask myself?

Did I hear that HMRC use Horizon?

Hoenir

More likely a human error. Though no one ever seems to make them themselves. 

RG2015

I forgot to mention that HMRC refunded the £322.80 income tax deducted yesterday.

Despite this they are currently showing the following.

Your estimated Income Tax

An estimate of the total amount of Income Tax you will pay on all your PAYE income for this tax year.

The amount is £98,972

Dazed_and_C0nfused

RG2015 said:

[Deleted User] said:

RG2015 said:

Dazed_and_C0nfused said:

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

The anomaly was noticed a few days ago. Hence the only reported payment between 4 January and 8 March was the single one on 4 January.

If they had assumed a daily pattern where were the 60 odd daily payments from 5 January to early March?

Unfortunately HMRC only act upon each subsequent RTI submission. In this case there were none. 

This from HMRC on 6 March 2013.

From 6 April, employers will be required to move to a new way of reporting PAYE called RTI where they report each time they pay their employees, rather than annually. This updates the PAYE system so that it is quicker, easier and more accurate.

Certainly looks like a bug in the system. Has this happened to others I ask myself?

Did I hear that HMRC use Horizon?

Are you saying HL have submitted further payroll information and it's missing from your PTA?

Irrespective of that though employers might have to report each pay day but that doesn't mean HMRC react to every single RTI report filed.

RG2015

Dazed_and_C0nfused said:

RG2015 said:

[Deleted User] said:

RG2015 said:

Dazed_and_C0nfused said:

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

The anomaly was noticed a few days ago. Hence the only reported payment between 4 January and 8 March was the single one on 4 January.

If they had assumed a daily pattern where were the 60 odd daily payments from 5 January to early March?

Unfortunately HMRC only act upon each subsequent RTI submission. In this case there were none. 

This from HMRC on 6 March 2013.

From 6 April, employers will be required to move to a new way of reporting PAYE called RTI where they report each time they pay their employees, rather than annually. This updates the PAYE system so that it is quicker, easier and more accurate.

Certainly looks like a bug in the system. Has this happened to others I ask myself?

Did I hear that HMRC use Horizon?

Are you saying HL have submitted further payroll information and it's missing from your PTA?

Irrespective of that though employers might have to report each pay day but that doesn't mean HMRC react to every single RTI report filed.

There is nothing missing from the PTA, but no possible reason why they should asssume the single payment would be repeated for the subsequent 92 days..

My point was why did they record one payment and assume the (mythical) following 60 had not been submitted.

Dazed_and_C0nfused

RG2015 said:

Dazed_and_C0nfused said:

RG2015 said:

[Deleted User] said:

RG2015 said:

Dazed_and_C0nfused said:

RG2015 said:

Here’s an interesting one.

There are 93 days from 4 January to 5 April and £2,662.50 x 93 = £247,612.50. This cannot be a coincidence.

However I cannot see why HMRC (or HL) would see a one off withdrawal as a potential daily income for the remainder of the tax year.

I have advised them of the correct figure and they said it would be updated in 48 hours, but that was 5 days ago. I guess they are bogged down with correcting crazy errors.

Is it possible HL reported that this pension started on 4 January 2024 and by 4 January 2024 you had been paid £2,662.50.

Which would be £247,612 if that (highly unlikely) pattern continued?

The anomaly was noticed a few days ago. Hence the only reported payment between 4 January and 8 March was the single one on 4 January.

If they had assumed a daily pattern where were the 60 odd daily payments from 5 January to early March?

Unfortunately HMRC only act upon each subsequent RTI submission. In this case there were none. 

This from HMRC on 6 March 2013.

From 6 April, employers will be required to move to a new way of reporting PAYE called RTI where they report each time they pay their employees, rather than annually. This updates the PAYE system so that it is quicker, easier and more accurate.

Certainly looks like a bug in the system. Has this happened to others I ask myself?

Did I hear that HMRC use Horizon?

Are you saying HL have submitted further payroll information and it's missing from your PTA?

Irrespective of that though employers might have to report each pay day but that doesn't mean HMRC react to every single RTI report filed.

There is nothing missing from the PTA, but no possible reason why they should asssume the single payment would be repeated for the subsequent 92 days..

My point was why did they record one payment and assume the (mythical) following 60 had not been submitted.

As far as I know HMRC don't recalculate things every time you happen to look at your PTA.

There needs to be a prompt for that to happen, like (another) new pension or you providing some new information which prompts a tax code review.