Have you received your revenue tax letter?
HM Revenue and Customs will today be ready for a flood of complaints as the first batch of tax correction correspondence drops on the mats of many people across the UK. It is believed upwards of 6 million people may well have paid the wrong tax in the past with some due a rebate and others facing an average repayment to the revenue of £1428.
Looking back at the history of problems regarding UK tax it has to be said that this issue, which has potentially seen the government starved of billions of pounds over the last few years, is the worst on record so far. Many believe that up to 10 million people could be affected when the situation becomes clearer. The revelation that those owing money to the revenue will have their pay docked by £120 a month, if they owe less than £2000, is a major worry to many families in the UK. However, the situation for those owing more than £2000 is even worse because they will be expected to repay this figure in full before February 2012!
Whether the UK government will be forced to write off some of the outstanding "debts" remains to be seen because this is a situation created by HM Revenue and Customs and one which will impact upon the lives of potentially millions of people in the UK.
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