HMRC Revised Simple Assessment Letters Could Ask Millions to Pay Twice

Overview

• HMRC will begin issuing revised Simple Assessment (PA302) letters from October 2026 that add previously omitted tax on savings interest.
• The follow-up letters can repeat figures from earlier bills, creating a real risk that people who already paid will be asked to pay the same sums again.
• Rising interest and balances mean an estimated 4.51 million savers face savings-interest tax this year and about 1.8 million Simple Assessments are expected for the prior tax year.
• HMRC says its new letters make clear taxpayers do not need to pay the full total if they already paid a previous Simple Assessment, but experts warn the change may not stop all overpayments.
• Accountants advise checking past payments, personal savings allowances and contacting HMRC before paying because refunds are not automatic and the process could cause delays and extra work for savers.