Royal London urges taxpayers to double-check income tax
Around 460,000 people chased HMRC for refunds on overpaid income tax in the year 2018/19, according to an FOI request by insurance company, Royal London.
The value of all types of repayments to individuals in 2018/19 was £5.1bn, up from £5.0bn in 2017/18, made up of refunds to individuals and for personal pension contributions. Individual taxpayers were refunded £2.78bn, down from the previous year's £3.1bn, while pension refunds jumped to £2.24bn, up 10% from £1.9bn.
Read more at the Accountancy Daily.