Received a P800? Check it’s correct!
Over the next few months, millions of people who pay tax through PAYE will receive P800 calculations from HMRC telling them they have either underpaid, or overpaid, tax. Any calculations should be treated with caution – it is by no means certain that they will be correct or should be agreed.
For people who do not normally fill in a tax return, each year HMRC compare the amount of tax deducted from wages and pensions with the amount that was actually due. Where there is a difference, they issue a tax calculation on form P800 which shows how much tax HMRC think is either owed or due to be refunded.
Any day now, HMRC will start sending out the P800 calculations for the 2018/19 tax year.
The Low Incomes Tax Reform Group has published some useful guidance on the subject which can be accessed at the link below.