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tax code changed due to untaxted interest on savings and investiments
Comments
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If they had updated their occupational pension income
The occupational pension income must always have been advised correctly to HMRC? RTI?
The savings income was a real mess!
Did you read
https://forums.moneysavingexpert.com/discussion/comment/79585658/#Comment_79585658
https://forums.moneysavingexpert.com/discussion/comment/79585771/#Comment_79585771
The plain fact is that it was up to HMRC to update their systems correctly to reflect the change in legislation.
Indeed, when the person referred to in my previous had her second conversation with the HMRC rep, the glitch causing the overpayment of tax was acknowledged as "something which was supposed to be sorted out"!0 -
It seems bizarre that HMRC assume the pension from the year before, is going to be the same in the year going forward. Most are going to increase - even if just a tiny bit. Surely the pension provider should be telling HMRC when an increase happens, rather than HMRC telling the pension provider to use a tax code based on the year before!0
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