tax rebate into bank

kerry87_2

Hi,

My tax rebate was issued into my bank last Wednesday, when does it clear?

This was directly from HMRC.

Thanks

McKneff

As soon as you see it on screen on your internet banking.

System

Depends what kind of refund it was.

Self-Assessment, normal BACS turnaround times. PAYE/non Self-Assessment aren't sent by BACS - processing time can vary bank to bank.

kerry87_2

It is PAYE tax refund and I don't have internet banking

System

kerry87 wrote: »

It is PAYE tax refund and I don't have internet banking

With PAYE refunds they send your cheque/payable order to your bank. So as a norm allow 7 - 10 days for postal times, your bank having to put it through their system and the cheque clearing.

McKneff

\in june, they sent me a letter to say they wre sending me a refund, a few days later I received the cheque payable to me.

System

McKneff wrote: »

\in june, they sent me a letter to say they wre sending me a refund, a few days later I received the cheque payable to me.

It's pretty much the same deal with a repayment to a bank. The cheque should normally arrive at the bank two or three days after the calculation turns up at your house. After that it's down to how quickly the bank can do their part.

kerry87_2

ceiberman wrote: »

It's pretty much the same deal with a repayment to a bank. The cheque should normally arrive at the bank two or three days after the calculation turns up at your house. After that it's down to how quickly the bank can do their part.

I received my calculation on Saturday so hopefully cheque should arrive this week.

kerry87_2

kerry87 wrote: »

I received my calculation on Saturday so hopefully cheque should arrive this week.

Still no sign of money in my account, I thought it would be quicker to have my rebate paid into my account???

System

kerry87 wrote: »

Still no sign of money in my account, I thought it would be quicker to have my rebate paid into my account???

Is there any way your bank can check if the repayment is going through their clearing system? As you'd received the calc Saturday - you'd normally have had your cheque (if it was going to your home) 2 - 3 working days after that, so around Weds. I'd have expected your bank (in this case) to get it around the same time.

After that, it's all down to how quickly your bank can deal with the cheque. I can't remember the last time I banked a cheque, do they still take 3 days or so to clear into someone's account?

TM1976

The date HMR&C say the payment is issued isn't the same day it's posted out. It's usually at least a week following that date, it could be 3. Your bank also may not process it straight away.

As it's less than 2 weeks from HMR&C's payment date it's highly unlikely it would have appeared on your bank account yet. You need to allow it at least 4 weeks from HMR&C's date unless you're aware of a reason why it wouldn't have been received, like you'd given them the wrong bank details. If this is the case contact them straight away and get them to issue another cheque. Otherwise you'll just have to wait as this process will take at least 6 weeks.