HMRC woes continue with 50p tax rate errors - papers

HMRC is facing accusations it cannot cope with the new 50p rate of income tax.

Although the new band for high earners came into effect in April, new PAYE codes have not been issued to thousands of professionals, according to the Telegraph. The problem affects individuals with more than one job, whose combined earnings are more than £150,000, and they will face larger tax bills at a later date to recover the missed payments. The news comes on top of the revelation up to nine million tax records held by HMRC may be wrong, with 1.4 million people facing the prospect of bills for incorrectly paid taxes from 2008 to this year. Read more Europe to keep closer ey...