HMRC Tax Refund Warning

The Money Saving Expert has issued a stark warning that falling short of the 10-year minimum rule for National Insurance contributions could leave retirees with no state pension.

Mistakes in tax codes are estimated to cost taxpayers a combined £3.5 billion in a single year.

Lewis advised that while topping up a record can be expensive, it is often an 'unbeatable' investment for long-term financial security.

HMRC has also launched a new initiative for those earning over £50,000 to ensure they are correctly registered for the High Income Child Benefit Charge.