Tax Repayment Due - How Will I Get My Money?

PropQuinn

Okay so two weeks ago I started a new job and had to subMit my documentation to be sent to HMRC. Last week I received a letter giving me my new Tax Code as apparently I was on the wrong one for all the years working in my old job throughout University.

So yesterday I receive a letter breaking down each individual year from 2004 - 2011 and on each year a repayment is due, ranging from £220 to £750. It adds up to £1800!!!

Anyway, in the supplementary documentation it says the following:

"If your tax calculation shows that you have overpaid tax it means that we owe you money. We will either send you a cheque for the amount within 14 days or carry the amount forward into a tax calculation for a later year"

Now, my question relates to the above. I want this money. As soon as possible ideally as I'm off on holiday soon! I'm really just looking for peace of mind that I will be sent a cheque and the amount won't be carried forward. I'd much rather just receive this money now and pay regular tax.

Help?!

Phils_debt

We recieved a cheque

ceeforcat

You should receive a cheque.

Mikeyorks

PropQuinn wrote: »

We will either send you a cheque for the amount within 14 days or carry the amount forward into a tax calculation for a later year"

As the final refund year is 10-11 ......... there is no further calculation to carry the overpayment into. So you get a cheque. The sum is normally aggregated onto the final year (10-11?) if all arrived together.

jimmo

Mikeyorks wrote: »

As the final refund year is 10-11 ......... there is no further calculation to carry the overpayment into. So you get a cheque. The sum is normally aggregated onto the final year (10-11?) if all arrived together.

Just to stress that point, each year’s calculation, apart from the first, should include a line saying something like “overpayment brought forward from earlier year” so the repayment you should expect is probably a lot closer to £750 than the £1,800 you seem to be expecting.
A small percentage of repayments are sidelined by HMRC for security checks and, if you get caught up in that, heaven only knows when you will get your money. However the chances are pretty good that you will get a cheque from HMRC within the next 2 weeks.

drthorne1

I have received the same sort of letter, but I am confused at why the total amount would be reduced by so much.

My total calculations was £2500 but I received a check today for £955?

I am very confused but also happy.