Tax Rebates

[cc8s]

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

[joewilliams]

My OH got hers in August last year after numerous phone calls and promises...

[Eric Mc]

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

[cc8s]

Eric Mc said:

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

I haven't made a claim...I just paid too much tax in my pay packet over a few months before noticing. Over the past couple of years I have automatically received a rebate. I think I will give them a phone to inquire anyway. I meant to last week but work was manic.

[Eric Mc]

cc8s said:

Eric Mc said:

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

I haven't made a claim...I just paid too much tax in my pay packet over a few months before noticing. Over the past couple of years I have automatically received a rebate. I think I will give them a phone to inquire anyway. I meant to last week but work was manic.

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

[llewop]

Eric Mc said:

However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

picking up on your point: I rang my tax office about a month ago to see when I could expect to get a rebate I'm due - was told they had a back-log of correspondence so couldn't say for sure, but it would likely be about a month... Which seemed odd, but then I did read something somewhere that the tax office was (alledgedly...) hanging onto rebates as long as they could get away with.

I'm checking the bank every few days to see if my some miricle it has arrived - will start ringing them again soon, but not easy from here....

Edited by llewop on Monday 26th April 15:34

[Eric Mc]

And what about my other points?

[llewop]

llewop said:

Eric Mc said:

However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

picking up on your point: I rang my tax office about a month ago to see when I could expect to get a rebate I'm due - was told they had a back-log of correspondence so couldn't say for sure, but it would likely be about a month... Which seemed odd, but then I did read something somewhere that the tax office was (alledgedly...) hanging onto rebates as long as they could get away with.

I'm checking the bank every few days to see if my some miricle it has arrived - will start ringing them again soon, but not easy from here....

Edited by llewop on Monday 26th April 15:34

Sorry - I was semi-hijacking this since seemed similar to my concern, but to answer your questions for my situation:

Why have you paid too much tax? see next answer - although I filled the form in at what seemed the right time it didn't seem to find its way to my tax office, then anyway I changed the start date of things afterwards, so just as well
What is the underlying reason why this happened? because I was being taxed as a resident, but tax office have retrospectively agreed I wasn't for the tax year in question
Was your PAYE Coding incorrect? it was,
Is it still incorrect? no - now it is correct (i.e zero)

the tax office refunded my tax in this year through PAYE, but couldn't use the same process for the previous year (which is what I'm waiting for) - so sent me a statement of what I was due back and a form to complete to instruct them how and where to pay it... that is what I'm waiting for: a nice little payment into my bank!

apologies to OP for jumping on your bandwagon & to Eric if I've added to the confusion!

[cc8s]

Eric Mc said:

cc8s said:

Eric Mc said:

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

I haven't made a claim...I just paid too much tax in my pay packet over a few months before noticing. Over the past couple of years I have automatically received a rebate. I think I will give them a phone to inquire anyway. I meant to last week but work was manic.

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

I was on a Basic Rate Tax code I believe - I started a new job and forgot to hand in my P45 to my new work. I am no good at tax things. I sorted out my tax code a few months ago so I do expect a few hundred pounds in rebate(fingers crossed). I just wondered when to expect it.

[seaninog]

I've been waiting since 2005 (seriously!) so any day now....

[Eric Mc]

cc8s said:

Eric Mc said:

cc8s said:

Eric Mc said:

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

I haven't made a claim...I just paid too much tax in my pay packet over a few months before noticing. Over the past couple of years I have automatically received a rebate. I think I will give them a phone to inquire anyway. I meant to last week but work was manic.

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

I was on a Basic Rate Tax code I believe - I started a new job and forgot to hand in my P45 to my new work. I am no good at tax things. I sorted out my tax code a few months ago so I do expect a few hundred pounds in rebate(fingers crossed). I just wondered when to expect it.

You FORGOT to hand over the P45??? You have a legal obligation to do so.

I presume that you started your current employment before 5 April 2010.

For the current tax year (which began on 6 April 2010) there is no reason why you should not be on the normal Tax Code of 647L (tax allowances of £6,475).

Do you have any taxable Benefits in Kind from your current emoployer (company car, health insurance etc)?

What is your CURRENT tax code? It may show on your current payslip but you SHOULD also have received a 2010/11 Tax Code notification from HMRC a few months ago.
If you can't see what your code is, ask your employer what code they are currently using.

I am always amazed that so many people are so remiss about making sure they are paying the correct tax they should be paying.

[quotemehappy]

Over the Easter break I had realised that during the 2007/08 tax year that I had overpaid tax to the tune of £420; this was caused by me being on a BR tax code whilst doing a temping job which was in addition to my main job at the time.

I called the tax office at the beginning of the month I think on the first day of the tax year 06/04/2010 they had all my records and agreed that I was due a refund; I received a letter this week saying that they have acknowledged my request and that because they receive lots of similiar claims at this time of year it will take them some time to process my tax refund' it states it may be May/June 2010 before they process my claim. Ah well its the best that I can hope for from HMRC.

[arguti]

Eric Mc said:

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

this happens to me every year as HMRC tend to change my tax code around 3-4 times a year on average despite my circumstances not changing, leaving the accountant very confused.

[Eric Mc]

arguti said:

Eric Mc said:

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

this happens to me every year as HMRC tend to change my tax code around 3-4 times a year on average despite my circumstances not changing, leaving the accountant very confused.

Do you know why HMRC do this? What type of adjustments do they make?

[cc8s]

Eric Mc said:

cc8s said:

Eric Mc said:

cc8s said:

Eric Mc said:

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

I haven't made a claim...I just paid too much tax in my pay packet over a few months before noticing. Over the past couple of years I have automatically received a rebate. I think I will give them a phone to inquire anyway. I meant to last week but work was manic.

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

I was on a Basic Rate Tax code I believe - I started a new job and forgot to hand in my P45 to my new work. I am no good at tax things. I sorted out my tax code a few months ago so I do expect a few hundred pounds in rebate(fingers crossed). I just wondered when to expect it.

You FORGOT to hand over the P45??? You have a legal obligation to do so.

I presume that you started your current employment before 5 April 2010.

For the current tax year (which began on 6 April 2010) there is no reason why you should not be on the normal Tax Code of 647L (tax allowances of £6,475).

Do you have any taxable Benefits in Kind from your current emoployer (company car, health insurance etc)?

What is your CURRENT tax code? It may show on your current payslip but you SHOULD also have received a 2010/11 Tax Code notification from HMRC a few months ago.
If you can't see what your code is, ask your employer what code they are currently using.

I am always amazed that so many people are so remiss about making sure they are paying the correct tax they should be paying.

Yes I am new to this working malarkey I am only 20 and have been at Uni for a time before working. Unfortunately in school they don't teach you a huge amount that is relevant to actual life and up until now, in my jobs, I have not been shown how to deal with taxation properly.

I am back on the 647L code now as a friend had brought it to my attention that I should have a tax code and not be paying BRT. I know this sounds bad, but I am not too bothered about having paid extra tax as I know I should get it back. I did fix it as soon as I was aware.

I phoned the HMRC tax helpline and was told I had to send in my P60(which I have seen no sign of yet) to say how much tax I had paid. I find this odd as for the last two years I have received rebates and have not actively done anything about it. This year I have my eye on a watch so I am rather keen to get it back asap

I may come across as dozy but I am learning from all over the place and I am appreciating you input and advice and am following it up.

[quotemehappy]

cc8s said:

Eric Mc said:

cc8s said:

Eric Mc said:

cc8s said:

Eric Mc said:

cc8s said:

Can anyone tell me when a tax rebate is likely to arrive? Is there are a way to see how much you are due? Thanks.

Can vary hugely.

If it arises due to the on-line submission of a Self Assessment tax return, it could be refunded within days.
However, it can also take weeks - or even months. If you are concerned, telephone your tax office and ask why iit hasn't been paid.

How did the tax refund arise and how did you make the claim?

I haven't made a claim...I just paid too much tax in my pay packet over a few months before noticing. Over the past couple of years I have automatically received a rebate. I think I will give them a phone to inquire anyway. I meant to last week but work was manic.

Why have you paid too much tax?
What is the underlying reason why this happened?
Was your PAYE Coding incorrect?
Is it still incorrect?

I was on a Basic Rate Tax code I believe - I started a new job and forgot to hand in my P45 to my new work. I am no good at tax things. I sorted out my tax code a few months ago so I do expect a few hundred pounds in rebate(fingers crossed). I just wondered when to expect it.

You FORGOT to hand over the P45??? You have a legal obligation to do so.

I presume that you started your current employment before 5 April 2010.

For the current tax year (which began on 6 April 2010) there is no reason why you should not be on the normal Tax Code of 647L (tax allowances of £6,475).

Do you have any taxable Benefits in Kind from your current emoployer (company car, health insurance etc)?

What is your CURRENT tax code? It may show on your current payslip but you SHOULD also have received a 2010/11 Tax Code notification from HMRC a few months ago.
If you can't see what your code is, ask your employer what code they are currently using.

I am always amazed that so many people are so remiss about making sure they are paying the correct tax they should be paying.

Yes I am new to this working malarkey I am only 20 and have been at Uni for a time before working. Unfortunately in school they don't teach you a huge amount that is relevant to actual life and up until now, in my jobs, I have not been shown how to deal with taxation properly.

I am back on the 647L code now as a friend had brought it to my attention that I should have a tax code and not be paying BRT. I know this sounds bad, but I am not too bothered about having paid extra tax as I know I should get it back. I did fix it as soon as I was aware.

I phoned the HMRC tax helpline and was told I had to send in my P60(which I have seen no sign of yet) to say how much tax I had paid. I find this odd as for the last two years I have received rebates and have not actively done anything about it. This year I have my eye on a watch so I am rather keen to get it back asap

I may come across as dozy but I am learning from all over the place and I am appreciating you input and advice and am following it up.

You probably got somebody very unhelpful from HMRC on the phone which is not unusual; ring the tax office again they should have all of your PAYE records (jobs where you pay tax at source) on one database and they should be able to tell you if you overpaid tax in that year. When I phoned they were able to tell me that I had overpaid £400 odd in the 07/08 tax year and they also confirmed that I hadnt overpaid tax in a previous tax year to that one.

If the job you did was in the 2009/10 tax year just gone it is possible that your employer havent filed there employers annual return in which case HMRC will not know what tax was deducted from you. However Employers annual returns are due to be filed by the 19th MAY 2010 for the 2009/10 tax year so I would recommend calling the tax office again after that date to see if your records have been updated.

[Eric Mc]

To be fair to the HMRC person, if the query was about tax paid in 2009/10, it is highly likely that they DON'T have all the PAYE information for the tax payer yet. They only get this when the employer submits the end of year payroll returns. These are made up of a number of documents, the main ones being the P35 and the P14. The P14 is the employer's version of the P60 and will show the following -

The employee's name and address and date of birth

The employee's tax and NI numbers

The Gross Salary for the employee

The PAYE tax deducted during the year

The Employee's NI and Employer's NI for the year.

The final tax code used by the employer to calculate the employee's PAYE during the year.

Once thay have this information, HMRC can then ascertain if tax and NI was calculated and deducted correctly.
The deadline for submitting this data to HMRC is 19 May so some employers will not have submitted it yet.

[Yeast Lord]

Been trying to get through to my tax office for the last 3 weeks, every time I wait 20 minutes on hold and put the phone down. Are they able to advise on tax, I made an 9k capital gain in Feb and a 4k capital loss a couple of days ago - can I include them both in 10/11 tax year and set them off each other?

[Eric Mc]

Yeast Lord said:

Been trying to get through to my tax office for the last 3 weeks, every time I wait 20 minutes on hold and put the phone down. Are they able to advise on tax, I made an 9k capital gain in Feb and a 4k capital loss a couple of days ago - can I include them both in 10/11 tax year and set them off each other?

Yes you can.

However, even if you couldn't offset the £4,000 loss against the £9,000 gain you wouldn't be liable for CGT as the gain you made of £9,000 is less than the Annual personal Capital Gains Tax Allowance of £10,100.
In fact, you may want to postpone setting off the loss you made in 2010/11 for offset against future Capital Gains, otherwise, you could be wasting a portion of your anual Capital Gains Allowance.

Obviously, if you make any MORE capital gains between now and 5 April 2011, you would need to reassess how best to make use of your allowances and losses.

I am assuming that you have computed your gains and losses in accordance with Capital Gains Tax rules and have deducted allowable costs when computing these figures.

Edited by Eric Mc on Sunday 2nd May 16:05

[Yeast Lord]

Eric Mc said:

Yeast Lord said:

Been trying to get through to my tax office for the last 3 weeks, every time I wait 20 minutes on hold and put the phone down. Are they able to advise on tax, I made an 9k capital gain in Feb and a 4k capital loss a couple of days ago - can I include them both in 10/11 tax year and set them off each other?

Yes you can.

However, even if you couldn't offset the £4,000 loss against the £9,000 gain you wouldn't be liable for CGT as the gain you made of £9,000 is less than the Annual personal Capital Gains Tax Allowance of £10,100.
In fact, you may want to postpone setting off the loss you made in 2010/11 for offset against future Capital Gains, otherwise, you could be wasting a portion of your anual Capital Gains Allowance.

Obviously, if you make any MORE capital gains between now and 5 April 2011, you would need to reassess how best to make use of your allowances and losses.

I am assuming that you have computed your gains and losses in accordance with Capital Gains Tax rules and have deducted allowable costs when computing these figures.

Edited by Eric Mc on Sunday 2nd May 16:05

Thanks for that.