Delayed Tax Notifications May Lead to Unexpected Bills

Delayed Tax Notifications May Lead to Unexpected Bills


HMRC is delaying the issuance of P800 letters, which inform taxpayers of overpaid or underpaid taxes, until the end of March 2025. This delay may result in unexpected tax bills for many savers, especially those who have exceeded their tax-free savings allowance due to higher interest rates. Taxpayers are advised to monitor their savings income and consider tax-efficient accounts like ISAs to minimize liabilities. 



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