Confused with HMRC rebates!

harz99

zygurat789 wrote: »

Looking at the data I understood that the £300 was tax on £1500 interest which HMRC were under the impression had been deducted at source.

Hence my question above - HMRC must have obtained that figure (and the interest received figure) from somewhere, was that from forms filled in by ceejayblue or from data received from the savings companies?


I didn't think HMRC do a guesstimate in such matters?

zygurat789

ceejayblue wrote: »

I rang the HMRC and they told me it was because I was had previously declared £1500 on my savings account. I didn't even think about it when I got my last tax coding.

£1500 is a very round amount and appears to be used on a coding notice in the absence of more up to date information.
Could it be that when the £1500 was orinally declared to HMRC it was suffering 20% tax deducted?

ceejayblue

It could be that I was asked once a long time ago about approx how much interest I was getting, before I retired. Will be sending the info off the HMRC tomorrow.

somethingcorporate

Why would you get rebates from an employers health plan declared as a benefit? you should be paying tax on a benefit in kind not getting tax back (unless it was incorrectly coded/overstated).

ceejayblue

It was incorrectly coded (at least that's what I was told!)