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Agent Update: PAYE codes and Tax Bulletins

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HMRC have written to taxpayers who may be liable to pay tax at 50% for 2010/11 but have not had sufficient tax deducted under PAYE, to ‘enable them to arrange their finances’ to cover any underpaid tax that will be due on 31 January 2012.

An HMRC statement published by the leading professional bodies suggested that the problem should be restricted to taxpayers who have more than one source of employment income.

HMRC said in Agent Update 22: ‘Those customers not currently within self assessment will be registered and allocated a unique taxpayer reference before being issued with a 2010/11 notice to file [a tax return].’ Tax codes for 2011/12 will reflect the 50% rate.

The Tax Bulletin pages are to be removed from the HMRC website, the Agent Update said. The bulletins, published between 1991 and 2006, set out the views of the former Inland Revenue’s technical specialists on particular issues of interest to tax practitioners. They will be republished on the National Archives website.