Overpaid Tax

[Hodgie]

Hello all, this is probably a stupid question but please bear with me!

I have received my Self-Assessment Statement and it shows I have overpaid, the overpayment is actually from June 2011.

How do I claim this back from HMRC? I take it this is not automatically sent by cheque.

Thank you for any help.

[condor]

My overpayment was paid straight into my bank account. There was a question on the self assessment form that asked how you'd want any over payment to be refunded to you - I think preferred method was just giving them your bank details.

[Hodgie]

That would make sense, I will give them a call tomorrow. Thanks!

[Mattt]

If the amount is small, you can also have it repaid through your tax code for next year.

(Well that's the system for underpayments, so assume it works the same)

[sumo69]

Mattt said:

If the amount is small, you can also have it repaid through your tax code for next year.

(Well that's the system for underpayments, so assume it works the same)

Nope - overpayments are NEVER coded.

The OP can call HMRC and request the refund or if he has registered on HMRC's online portal can login and request electronically - this is much faster.

David

[Mattt]

Yeah, mine are submitted online and I usually get the cash transferred within a week or so.

[2 sMoKiN bArReLs]

Hodgie said:

Hello all, this is probably a stupid question but please bear with me!

I have received my Self-Assessment Statement and it shows I have overpaid, the overpayment is actually from June 2011.

How do I claim this back from HMRC? I take it this is not automatically sent by cheque.

Thank you for any help.

Did you not fill in your bank details on the return? If so as said it's usually an auto refund in a few days. (Although not sure why it is still outstanding from 2011. Why specifically June 2011, as tax tends to work in full years?)

[Hodgie]

2 sMoKiN bArReLs said:

Did you not fill in your bank details on the return? If so as said it's usually an auto refund in a few days. (Although not sure why it is still outstanding from 2011. Why specifically June 2011, as tax tends to work in full years?)

No, i stupidly did not. I spoke to HMRC today and they are issuing me a cheque for the overpayment. According to the guy I spoke to, if you do not fill in the bank details section you have to request it from your statement. My fault and I now know!

Thanks for the replies everyone!

[Eric Mc]

You don't HAVE to fill in your bank details. Not everyone wants to give that type of information to a large impersonal organisation like HMRC.

What you can do is make sure you tick the "Repayment" box. That will mean HMRC will automatically issue a cheque to the address you are showing on the front of teh tax form.

None of my clients fill in their bank details - but they usually get their refunds in the form of a cheque (if they are due one) within two weeks of submission of the form.

[raptor600]

Eric Mc said:

None of my clients fill in their bank details - but they usually get their refunds in the form of a cheque (if they are due one) within two weeks of submission of the form.

Why wouldn't you provide bank details?

Seems like extra agro for no gain to me.

[Eric Mc]

raptor600 said:

Eric Mc said:

None of my clients fill in their bank details - but they usually get their refunds in the form of a cheque (if they are due one) within two weeks of submission of the form.

Why wouldn't you provide bank details?

Seems like extra agro for no gain to me.

No aggro at all. HMRC will happilly pay you a cheque. will not assume that my clients are willing to give THEIR bank details to HMRC. It's not my position to do so. The easiest option when you are acting as an agent (as I am for virtually 100% of all tax reclaims I obtain) is to submit the return WITHOUT the client's bank details.

Having to obtain the bank details from a client and then receive authority from the client to give that information to HMRC on their behalf is far MORE hassle.

Edited by Eric Mc on Thursday 20th December 13:03

[raptor600]

Eric Mc said:

No aggro at all. HMRC will happilly pay you a cheque.

In my eyes having to wait for a cheque to turn up and then bank it is agro compared with waking up and the money being in your account.

Especially if it gets lost in the post and you have to chase for another one.

I just don't understand the logic behind not providing bank details.

[Eric Mc]

raptor600 said:

Eric Mc said:

No aggro at all. HMRC will happilly pay you a cheque.

In my eyes having to wait for a cheque to turn up and then bank it is agro compared with waking up and the money being in your account.

Especially if it gets lost in the post and you have to chase for another one.

I just don't see why you wouldn't provide bank details.

See my expanded previous post.

I am not talking about tax refunds due to me personally.

I've not come across a single incident of an HMRC repayment cheque geting lost in the post.

[raptor600]

Eric Mc said:

raptor600 said:

Eric Mc said:

No aggro at all. HMRC will happilly pay you a cheque.

In my eyes having to wait for a cheque to turn up and then bank it is agro compared with waking up and the money being in your account.

Especially if it gets lost in the post and you have to chase for another one.

I just don't see why you wouldn't provide bank details.

See my expanded previous post.

I am not talking about tax refunds due to me personally.

I've not come across a single incident of an HMRC repayment cheque geting lost in the post.

You said: "Not everyone wants to give that type of information to a large impersonal organisation like HMRC."

That was the point I was responding to. It's not like HMRC couldn't find out (already know) which bank accounts you own anyway.

[Eric Mc]

raptor600 said:

Eric Mc said:

raptor600 said:

Eric Mc said:

No aggro at all. HMRC will happilly pay you a cheque.

In my eyes having to wait for a cheque to turn up and then bank it is agro compared with waking up and the money being in your account.

Especially if it gets lost in the post and you have to chase for another one.

I just don't see why you wouldn't provide bank details.

See my expanded previous post.

I am not talking about tax refunds due to me personally.

I've not come across a single incident of an HMRC repayment cheque geting lost in the post.

You said: "Not everyone wants to give that type of information to a large impersonal organisation like HMRC."

That was the point I was responding to. It's not like HMRC couldn't find out (already know) which bank accounts you own anyway.

Don't they just know "what they need to know" and not the full details of every account?
And they are only supplied with details of interest bearing accounts by the banks - not the details of general current accounts that don't give interest.

To facilitate HMRC to pay directly into an account, you may be giving them information they haven't already got and don't actually need to have in the normal course of events.

It certainly isn't my place as an agent to give my clients' bank details to HMRC - unless my client gives me express writen consent to do so.

In fact, this year I have had a case where a bank inadvertantly gave to HMRC the details of a client's account that they should not have given. They have already paid some compensation to my client as they have admitted their error and also admitted that their actions breached the Data Protection regulations.

So HMRC do not know and are not allowed to know, in normal circumstances, all of a person's bank details.

[sumo69]

Surely your clients would prefer to see their refunds earlier? All those giving bank details receive their refunds within a week of submission whereas those requesting a cheque, especially if chunky, are waiting between 3 and 5 weeks as a result of the extra security procedures used on a manual repayment.

I cant say any of my clients have raised any objection re disclosing these details - its obvious enough I have used them as they are oo the main body of the return.

David

[Eric Mc]

Nothing wrong with extra security procedures.

[sumo69]

Eric Mc said:

Nothing wrong with extra security procedures.

Depends if your the client waiting an extra month for your refund when you really needed the money for Xmas presents etc

David

[Eric Mc]

Not experienced any delays of that length in recent years. Most repayments seem to be issued within two weeks of the tax return being submitted often even more quickly.