Pensioners warned of tax code error

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Pensioners warned of tax code error

The new system used by HM Revenue & Customs (HMRC) may mean that some pensioners have been given the wrong tax code and one group is urging elderly Brits to check their payments.

According to the Low Income Tax Reform Group (LITRG), the system will eventually result in more accurate work from the group, but a shaky start has meant that the merging of individual employee and pensioner data could have caused mistakes.

With Pay As You Earn tax code notices for the 2010/2011 financial year being sent out next week, the group is urging pensioners to be even more vigilant with their checking.

"It is wise to have a look at what tax codes are being used ... and contact HMRC if you are not sure how your tax is being worked out - do not assume that all is well just because you have not been told otherwise," a spokesperson from LITRG warned.

The organisation recently said that February could see people issued with incorrect penalties for late tax returns and has reminded workers to make sure that any fines are correct.

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