04 December 2018

Royal London urges taxpayers being chased by HMRC to seek more affordable payment terms

1 min read

 
Royal London logo

Becky O'Connor

Personal Finance Specialist

Share

  • Linkedin

Responding to the publication of a report by the Economic Affairs Committee - "HMRC Powers: Treating Taxpayers Fairly" 

In response to the publication of a report by the Economic Affairs Committee - “HMRC Powers: Treating Taxpayers Fairly”:

Becky O’Connor, personal finance specialist at Royal London, said: “There are many examples where HMRC has used draconian and heavy-handed tactics to chase down unpaid tax in a way that is disproportionate or downright unfair in the circumstances.

“There are signs the Revenue is beginning to recognise that ordinary taxpayers simply can’t cough up hundreds or even thousands of pounds in backdated tax that some are now being chased for, such as in the case of parents who accidentally failed to pay the High Income Child Benefit Charge.

“HMRC offers repayment plans according to affordability. We would like the Revenue to highlight this option to people. Royal London urges anyone struggling with an unexpected demand for payment of backdated tax to enquire about this option, rather than face the stress and difficulty of trying to find a lump sum to pay the whole bill.”

Royal London is campaigning for the Government to introduce measures that will help parents who have missed out on their state pension as a result of not claiming child benefit since the introduction of the High Income Child Benefit Charge. The petition can be found here.

-ENDS-

For further information please contact:

Becky O’Connor, Personal Finance Specialist

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.