As an employed person, or a person who gets a pension, you have to pay taxes to HMRC. Without seeking assistance from accounting services providers, you could file erroneous returns.  In other words, you could underpay or overpay your taxes without knowing. When using some of the top accountants in Essex you cannot make mistakes.


It would be a bit better if you overpay your taxes than if you underpay them. If you realize way after the deadline, it might so inconvenient for you financially. Taxes are easy to pay when you are aware you owe them because you do tax planning. But if you get called to be notified that you owe HMRC some tax, it might actually be shocking. This is one reason why working with accountants in Essex might be of big help.


The HMRC officials will send you the P800 tax computation by post. This is if they have noticed some errors in your returns. It indicates whether they need to give you a tax refund or you owe them money. The P800 is sent when you begin to receive your pension at your work place. Second, it can be sent to you if you started receiving Jobseeker’s Allowance or Employment Support Allowance. As well, you will get a P800 if you completed one job and began a new job the same month.


The provider of your top accounting services can explain this to you.  In case you are registered for Self Assessment, you will not get the form. Instead, HMRC officials will adjust your accounts automatically. They will indicate whether you underpaid or overpaid. All P800s sent to tax payers reach them after the tax year ends—usually on 5th April. Yours will get to you by either September if you need a rebate or October if you need to pay extra tax.


Once you will get yours, check to see that HMRC has indicated the amount of income you should have based your tax return on. It entails things like your pension, salary, savings interest, state benefits and/or employment benefits. It is important to compare the figures indicated with your own reports. Check to see that the figures tally with your DWP statements, Department for Work’s letters, your bank slips and your P60. If working with one of the top accountants in Essex, they will interpret the P800 so you can understand it well.


Perhaps you had multiplied your regular state benefits figures by 12 instead of 13. This will be shown. In case you want to do your own investigation, you may decide to use the HMRC tax calculator that is shown online. If you verify that the P800 is erroneous, get in touch with HMRC. In case your accountant shows that you overpaid your taxes and have not received any P800, contact the officials. The accounting services contractor could claim a tax rebate on your behalf. A cheque will automatically be sent to you if don’t claim your rebate online in forty-five days.


If you are afraid of making serious accounting mistakes, let us help you. Our accounting services are affordable and excellent quality. We have a group of talented, certified accountants in Essex who can work out your problems very quickly.