New HMRC powers ‘a worry’

Tax expert David Redfern has warned that new HMRC powers could spell disaster for many taxpayers. From April 2019, HMRC will be able to take additional tax revenue immediately from PAYE taxpayers where they have calculated that there has been an underpayment of tax by changing their tax code, rather than waiting until the end of the tax year to collect any underpayments. Redfern said: “Although it is important that HMRC are able to collect the tax they are owed, these new powers have the capacity to throw the finances of hard-working taxpayers into chaos.”

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