several tax rebate cheques help!

westy2k1

Really couldn't figure out which catagory to post in.

Ok so i recieved a letter from inland revenue with tax calculations for 3 seperate tax years. I am apparantly owed a refund on them all as it states at the bottom of each "refund due" and the amount. i recieved one cheque with the letter but in a seperate envelope.

It has been nearly 8 days now and i have recieved no more cheques.

Have i missed something and got my hopes up for some money i won't get?

Also to clarify, the cheque i did recieve matched one of the tax years refund exactly down to the last penny. I would really appreciate some clarification.

Thanks.

sariebeth

I'm sure the others are just in the post still. It may be that they have been issued at separate times. It would be too easy if they just did it all together

Mine came at a totally different time to my partners even though the year in question we had both worked at the same company and lived in the same house.

System

If you check each calculation you will see that the refund from the previous year is carried forward to the next years assessment. It is usually written down as an adjustment midway down the calculation. The amount due to you is that final figure on the last/most recent tax year calculated and will be issued as 1 cheque only.

Mikeyorks

westy2k1 wrote: »

Also to clarify, the cheque i did recieve matched one of the tax years refund exactly down to the last penny. I would really appreciate some clarification.

Thanks.

That would be the last year then?

The overpayment from the earliest year is 'adjusted' onto the next one - and so on. The final year is the summary of the entire (Note 16?) overpayment. They only issue a single cheque for that net figure.

It's clearly set out in the Notes you have (Note 16 again) :

(If the repayment covers more than one tax year, we will [FONT=Sabon,Sabon][FONT=Sabon,Sabon]send you [/FONT][/FONT][FONT=Sabon,Sabon][FONT=Sabon,Sabon]one [/FONT][/FONT]cheque which will cover all the years we have reviewed)

westy2k1

Ok thanks for the replies people. I understand partially. Ill explain. The amounts they say they owe me are in the adjustments as already mentioned however the second year i have overpaid and the third year paid correctly but this is why it looks like i have been robbed due to me not understanding how its calcul
ated.

The amount they say i am due to be refunded from year two is in the adjustments on year three however they have minused the tax i have paid from the amount they say they owe me from year two...thats where i get lost.

Ps i dont have a note 16

Mikeyorks

westy2k1 wrote: »

Ps i dont have a note 16

It's shown against the amount refundable on the P8oo for the last year. And is then explained in the P8oo Notes which arrived with the P8oos.