Six million to get a £400 tax refund, but 1.2 million face a £600 bill

[dipsydoodle]

Six million people will begin to receive tax repayments of an average of £400 this weekend because HM Revenue and Customs overcharged them.

HMRC is settling outstanding discrepancies from as far back as 2001 and worked out it had taken excess tax totalling £2.5 billion.

However, over 1.2million people, including around 150,000 pensioners, will receive a bill for £600 in the next few weeks because HMRC needs to claw back around £720 million.

Individuals will have the choice of having their tax code adjusted to cover the cost gradually or of sending a cheque for the total amount.

http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/8835472/Six-million-to-get-a-400-tax-refund-but-1.2-million-face-a-600-bill.html