Tax refund for 2010/11

Rupert_Bear

I have decided to retire early and have filled out a p161 to advise when I will be finishing my job and details of my occupational pensions I will be drawing shortly. As I would have paid too much tax do I have to apply for a refund or do they send it automatically.

Cheers

System

The refund should be automatic, but if I were you, I would phone my tax office to discuss the info you are including on the P161 form, just to check you have included everything they need. Then you can specifically ask if you need to do anything else to get any refund due.

Mikeyorks

Rupert_Bear wrote: »

As I would have paid too much tax do I have to apply for a refund or do they send it automatically.

There will likely be a P45 from your employer to the pension provider. If HMRC have sorted a Code out then you should get the refund via your pension provider? But it's possible (in particular if State Pension is also involved) that HMRC may play for safety to prevent you being underpaid - and issue it with a Month 1 caveat ..... which would inhibit the refund. In which case you won't get a refund until after April.

In order to be overpaid ...... you would generally be paying 40% currently?