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My full time employment is £45,000gross per annum, I take…

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My full time employment is...
My full time employment is £45,000gross per annum, I take a salary sacrifice for my pension and contribute 10% of my salary, because I have a secondary employment and the income fluctuates about £6,500 per annum. The HMRC said that I owed them £2,700 for the last 3 years as underpayment and I have agreed to pay that interest free for the next 3 years.

They have also Issued me with a tax code of K35 and this is having a mojor effect on my take home pay, can I do anything.
Submitted: 6 years ago.Category: UK Tax
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Answered in 27 minutes by:
7/1/2012
UK Tax Professional: TaxVince, Accountant replied 6 years ago
TaxVince
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 972
Experience: Chartered Accountant >20 years + Qualified IFA
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The usual way of improving take home is salary sacrifice and all the other staff you have tried. However a taxpayer could escape paying underpaid tax HMRC is demanding back by using few legal tax loopholes like the 'Extra Statutory Concession (ESC) A19', which states that HMRC must give up any tax if it has not followed its procedures correctly.According to statics,about 50,000 of tax payers who tried using this loophole in 2011 only 13,00 were successful -- its worthy trying though.Under the rules, HMRC won't collect tax if it has failed to properly use information supplied by a taxpayer or their employer or the Department for Work and Pensions. This only applies if (1)you were notified of the underpayment over 12 months after the end of the tax year in which the Revenue received the information ; (2) you must also have been unaware of the underpayment. Other Ways to get this underpayment reversed: 1. In exceptional circumstances, underpaid tax notified fewer than 12 months after the end of the tax year may be waived if the HMRC failed more than once to make proper use of the information or allowed arrears to build up over two successive tax years. 2. If you application for A19 is rejected, you can ask for another officer to review the decision made or if you are still unhappy you can use the Adjudicator's Office which investigates complaints about HMRC. 3. If your finances are severely affected, HMRC says it will treat those in hardship sympathetically, pointing out if someone cannot pay all the money back over the 3 years you mentioned, you can ask for longer. To read more about A19 see link http://www.hmrc.gov.uk/esc/esc.htm If you are satisfied, could you please revise the rating to a positive feedback and that would be greatly appreciated. If not completely satisfied, prior to leaving feedback, please get back to me and I will do whatever it takes as negative ratings affects my account badly.
TaxVince
TaxVince, Accountant
Category: UK Tax
Satisfied Customers: 972
Experience: Chartered Accountant >20 years + Qualified IFA
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