Savings accounts holders unhappy with tax news, says moneysupermarket.com

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Savings accounts holders unhappy with tax news, says moneysupermarket.com

News that HM Revenue and Customs (HMRC) miscalculated the tax owed by more than 1.4 million people over the past two years has not gone down well, according to moneysupermarket.com research.

A survey by the price comparison service indicated that just under half of respondents do not believe it is fair for the government institution to claim the money back, with site editor Clare Francis offering some advice.

She encouraged people to prepare early for the situation, by beginning to put money aside and look at areas of their budget where they can make savings.

"For most, this extra burden will come as a sharp shock at a time when their finances are already strained to breaking point," Ms Francis noted.

Recently, the Daily Mail described how British people have a "justifiable sense of indignation" over the news that they will be asked to pay back money that should have been automatically calculated for them by HMRC.

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