Wise Tax Glitch Affects 4,000 UK Users
Wise software error caused 4,000 UK users incorrect tax statements between 2021-2025.
In brief
Wise software error caused 4,000 UK users incorrect tax statements between 2021-2025. Wise fixed tax statement error for 4,000 UK customers using third-party software, compensating those overpaid. Originally reported by Pymnts.
Wise Tax Glitch
Wise contacted 4,000 UK users about incorrect tax statements from 2021 to 2025.
“Wise identified that errors in software used by a third-party provider led to incorrect tax statements for a limited number of customers using our Wise Interest and Stocks investment products”
Tax Statement Error
The error came from miscalculations by third-party software on stock and fund investment earnings.
Compensation Plan
Wise will compensate customers who overpaid taxes due to the incorrect statements.
HMRC Settlement
Wise is negotiating a bulk settlement with HMRC for tax shortfalls caused by the error.
The headline
Wise fixed tax statement error for 4,000 UK customers using third-party software, compensating those overpaid.
