HMRC has in a press release warned that fraudsters are sending scam e-mails and SMS messages that promise tax rebates in order to trick people into disclosing their account and personal details.
The tax authority is currently processing tax refunds after the end of the 2017 to 2018 tax year and is advising that people stay vigilant against fraudsters who are using email and text messages to scam people out of their savings by tricking the public into thinking they have received a tax rebate so that they hand over their account and personal details.
HMRC is about to start updating tax codes more frequently from April 2017.
This will help HMRC collect the tax due more quickly. Any underpayments of tax identified for 2016/2017 will be collected through the 2017/2018 tax codes. But the same tax codes will also be used to collect potential tax underpayments for 2017/2018.
HMRC can demand payment of tax earlier than it would otherwise be payable. The Accelerated Payment Notice is only issued in cases where the amount of tax due is disputed as a result of an investigation or court case.
In July 2014, HMRC issued a consultation regarding the draft The Income Tax (Pay As You Earn) (Amendment No. X) Regulations 2014 that would have made some important changes with regards to the issue of tax codes to employees via the coding notice P2.