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Income Tax: Overpayments

Volume 473: debated on Friday 14 March 2008

To ask the Chancellor of the Exchequer what estimate he has made of the value of unclaimed income tax overpayments for the last period for which figures are available. (193382)

[holding answer 11 March 208]: HM Revenue and Customs wants all business and individuals to pay only the correct amount of tax and therefore repays overpaid tax, usually without a formal claim being required.

HMRC does not hold information on the value of unclaimed overpayments. In the NAO Standard Report on HMRC 2006-07 Accounts published 6 July 2007 the Comptroller and Auditor General estimated that around £340 million may be overpaid in income tax by customers within the PAYE process.