Pictured: Leigh Graham Associates partner Graham Beach is warning residents to be on the lookout for 'phishing' emails in the light of this week's announcement that six million people are owed tax rebates averaging £400

Residents are being warned by Stratford accountancy firm Leigh Graham Associates to beware of 'phishing' emails from fraudsters in the light of this week's announcement that six million people have paid too much tax. 

The warning comes from LGA tax partner Graham Beach after HM Revenue and Customs said it owed an average of £400 per person to those who paid too much tax between 2003 and 2008. 

Another one million will learn that have underpaid by an average of £600 - which will be clawed back largely through amended tax codes next year.

Graham Beach, whose John St practice specialises in tax planning, financial planning and wealth management, said while the news of the rates would be welcomed by many, the announcement was a green light for fraudsters attempting to break into the personal bank accounts of the country's millions of tax payers.

"There have already been reports of some of these 'phishing' emails going around letting people know they're owed money and asking for bank details. HMRC says it never emails or phones anyone in these circumstances -  they only ever get in touch via letter and in fact everyone owed a rebate will be sent a cheque, so there's no need to give your bank details to anyone.

"Any phishing emails should immediately be reported to the trading standards authority at Warwickshire County Council.

"The rebate and underpayment issues only affect those on PAYE, not self employed people, and they have been caused by things like people swapping jobs, getting promoted or switching company car mid way through a financial year,"

Because of the volume of repayments owed cheques will be phased over a 14 month period ending in December 2012.