Firm News

Nine million NI payments go missing

Moore Thompson Accountants are warning taxpayers that HM Revenue and Customs (HMRC) has recently admitted that around nine million end-of-year P60 forms have not been matched with the corresponding National Insurance (NI) records.

Those affected will not have been credited for the NI contributions they have paid, leaving them with an incomplete payment record which could in turn affect their state pension payments.

However, many of those affected appear to be short-term, student or migrant workers, for whom this will make no real difference as they will either not qualify for a UK pension, or will still have plenty of time to build up the required 30 years of contributions in the future.

Mark Hildred, managing partner at Moore Thompson, said: “For a small proportion of those affected – those who have frequently changed jobs, or who have only worked for about 30 years anyway – there is the possibility that this mistake by HMRC could lead to a shortfall in pension payments.

“Anyone who is concerned should contact the Contributions Office for a pensions forecast at www.direct.gov.uk. The forecast will include details of any gaps in an individual’s NI record, so anyone who thinks it is wrong can query it”.

For more information, please contact Moore Thompson in Spalding on 01775 711333, in Wisbech on 01945 465767 or in Market Deeping on 01778 380850.

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