HMRC are issuing new tax code notices for the new tax year – 2020/21

Employees should receive advance notification of the detail, either in the post or by being advised by e-mail to look at their online account. Copies are not supplied to agents so if you wish us to review then please provide copies.

HMRC may include benefits in kind on your tax code. Do check that these are accurate, specifically if you still have them. If you do not have them or they are now being taxed via the payroll then do advise HMRC o they may be removed, or you will pay too much tax.

HMRC computers may include on tax codes an adjustment for estimated dividends tax, interest or other income. You may have such adjustments removed if you have a personal tax return to complete. If you do not have them removed, then you may pay extra tax on account (via your tax code and via your self-assessment account).

Firestone Accountants Ltd – Southampton Accountants