There has been an online tax repayment issue through the HMRC which has now thankfully been resolved, so now taxpayers can finally claim any overpaid tax they may be owed for the 2019-2020 tax year. Here are the details courtesy of the Accountancy Daily website from where we have copied the information below:
Simple Assessment Tax Calculation
“If taxpayers have not paid the right amount at the end of the tax year (5 April), HMRC will send a P800 or a Simple Assessment tax calculation to explain how to get a refund or pay tax that is owed.
“If People are due a tax refund, they can choose whether to get a cheque within 14 days of the date on the P800 letter received, or choose the online option which takes five working days. If no claim is made within 45 days, then HMRC send a cheque within 60 days from the date the P800 was sent.
“Taxpayers may be able to get a tax refund (rebate) if they have paid too much tax on:
“pay from current or previous job;
income from a life or pension annuity;
a redundancy payment;
a self assessment tax return;
interest from savings or PPI;
UK income if they live abroad; and
fuel costs or work clothing for their job.
Taxpayers can visit the HMRC website to use their claim a tax refund service which explains how their tax rebate will be paid online or by cheque.
“Taxpayers have 60 days to query their simple assessment in writing or by telephone, details of how to do that will be mentioned in the Simple Assessment letter or P800.”
Help With Tax & Accounting Issues
At WHR Accountants we help a wide range of small, medium and large sized businesses with any tax and accounting issues they may have. Our accountancy team has vast experience looking after clients, some who have been with us for too many years to mention!
If you run a business which requires help of any kind please get in touch with our offices on 028 3752 2909 and we will be glad to have a chat with you.