overpaid tax?

mad_bad_spender

hi there

I have just completed my tax return for 07/08, cutting it fine i know :cool:

when completing it stated that i have overpaid tax by over £500, can anyone advise what to do now, tr has been submitted but i have hunted for how to reclaim and cant seem to find an answer,

how do i reclaim the overpaid tax and how will this be paid? will this be paid back through my current employment or as a lump sum? is there a form to complete for this?

any help would be great

from one clueless and thankfully no longer self employed jambo

Enfieldian

IIRC it is paid back in one lump sum.

During the online submission you should have been asked for your bank details and you will receive a transfer, they used to send out cheques.

Last one I had took a couple of months to come through.

Obviously they have to check all the info you entered against your employer's submissions....

mad_bad_spender

I have resubmitted the return and added bank details, dont know how i overlooked this though?

Do they just automatically pay the money as long as you have entered your details? I was reading the notes and it states that an overpayment will have CR next to the amount but my return does not have this it just states the figures. Is this when you receive your actual statement?

Sorry for being so stupid but i really have no clue and could really use the money.

V.Lucky

It just happens automatically, doesn't take long to come through either, mine was back in my account in around 2 weeks.

andy-1_3

mine was back in my account in around a month.

Antispam

andy-1 :spam:mer all there web sites posted are owned by same person

ceeforcat

Regardless of what is entered, I would ring up and ask for the balance on your SA account to be repaid. I submitted a return for a client today who still had last years overpayment not repaid amounting to £690.

Also - I never enter bank details - leave it blank and the online return will still automatically go to next page. (Have this thing about giving HMRC bank details) The HMRC will post a cheque instead.

mad_bad_spender

Thanks for all your replies, i will call them next week anyway to make sure they do return the money as i dont want to delay getting it. What a change them actually giving me money :T

VfM4meplse

Had a lovely surprise this year, it came back in 3 working days! Surely that has to be a record???