HMRC have started the automated end of year PAYE reconciliation process for 2013/14 and will be sending out P800 tax calculations to those who have paid too little or too much tax under PAYE for that year.
The P800 tax calculations will be sent from June. Those who have overpaid tax are expected to receive a cheque within 14 working days from the receipt of a tax calculation, and those who have underpaid tax will, in most cases, have the shortfall collected through their 2015/16 annual tax code over 12 months.
HMRC say that around 85 per cent of those in PAYE will have paid the right amount of tax for the year and won’t receive a P800 calculation.
If you would like help in checking your P800, please do contact us.