£2,100 has left my bank account but now been returned?

CD31

Hello everyone, I recently submitted my tax return to HMRC and after a few days once the system had updated I was told to pay the amount I owe which was £2100. I paid by debit card and it’s set up so I have to acknowledge the transaction either by text or by logging into my banking app to prevent fraud. I confirmed the payment and it left my account on that same day. I logged in to my banking app this morning to check as I always do and the money I paid for my tax return had been returned to my bank account. I contacted the bank and one advisor told me there was no mention of any transaction to HMRC, then I got on the chat feature on the banking app and another advisor told me that the money had more than likely been sent to HMRC but they haven’t processed the payment and it could “come out at any time”
I tried getting through to HMRC this morning but no luck however on my account it says the date I paid, the money I sent and it says I’m £2100 in credit which means I’ve paid the tax I owe and I have a payment reference number which confirms that yet I have the entire money back in my account, it doesn’t really help that the people at the bank don’t even really know what’s happened either. Any clues ?

Yahoo_Mail

More than likely the money will be taken out shortly.  Leave it in there, they have up to 6 months from the authorisation date to take it.

jonesMUFCforever

More likely it was pending when you authorised it (your available balance reduced by the amount) but has now dropped off.
As Yahoo mail has said - not to worry I would expect them to take it within the next few days.

Going forward personally I would prefer to pay something like this by setting up a faster payment.

CD31

jonesMUFCforever said:

More likely it was pending when you authorised it (your available balance reduced by the amount) but has now dropped off.
As Yahoo mail has said - not to worry I would expect them to take it within the next few days.

Going forward personally I would prefer to pay something like this by setting up a faster payment.

Thank you, I thought a debit card payment would be a faster way to pay in all honesty but I guess not haha!. I just don’t want HMRC turning round to me and saying “ well we haven’t received your payment” despite the fact I have everything saved to prove that I have paid it. Would a direct debit be faster next time ?

CD31

Yahoo_Mail said:

More than likely the money will be taken out shortly.  Leave it in there, they have up to 6 months from the authorisation date to take it.

Thank you, I am leaving the money in my account just not sure when it will be taken out now, it’s all confusing lol ! 

Ergates

CD31 said:

jonesMUFCforever said:

More likely it was pending when you authorised it (your available balance reduced by the amount) but has now dropped off.
As Yahoo mail has said - not to worry I would expect them to take it within the next few days.

Going forward personally I would prefer to pay something like this by setting up a faster payment.

Thank you, I thought a debit card payment would be a faster way to pay in all honesty but I guess not haha!. I just don’t want HMRC turning round to me and saying “ well we haven’t received your payment” despite the fact I have everything saved to prove that I have paid it. Would a direct debit be faster next time ?

For something like a shop, a debit card is faster, but HMRC aren't really set up for them so there can be a delay.
An FPS transfer would be faster (leaves your account straight away, arrives by end of next business day).

eskbanker

Ergates said:

CD31 said:

jonesMUFCforever said:

More likely it was pending when you authorised it (your available balance reduced by the amount) but has now dropped off.
As Yahoo mail has said - not to worry I would expect them to take it within the next few days.

Going forward personally I would prefer to pay something like this by setting up a faster payment.

Thank you, I thought a debit card payment would be a faster way to pay in all honesty but I guess not haha!. I just don’t want HMRC turning round to me and saying “ well we haven’t received your payment” despite the fact I have everything saved to prove that I have paid it. Would a direct debit be faster next time ?

For something like a shop, a debit card is faster, but HMRC aren't really set up for them so there can be a delay.
An FPS transfer would be faster (leaves your account straight away, arrives by end of next business day).

In this situation, paying by debit card gives you the best of both worlds - HMRC show the bill as having been paid on the date the transaction was made, but the actual settlement is delayed, thereby giving the taxpayer the minor benefit of having the funds earning a small amount of interest, so there's no need to seek a faster method!

Ergates

eskbanker said:

Ergates said:

CD31 said:

jonesMUFCforever said:

More likely it was pending when you authorised it (your available balance reduced by the amount) but has now dropped off.
As Yahoo mail has said - not to worry I would expect them to take it within the next few days.

Going forward personally I would prefer to pay something like this by setting up a faster payment.

Thank you, I thought a debit card payment would be a faster way to pay in all honesty but I guess not haha!. I just don’t want HMRC turning round to me and saying “ well we haven’t received your payment” despite the fact I have everything saved to prove that I have paid it. Would a direct debit be faster next time ?

For something like a shop, a debit card is faster, but HMRC aren't really set up for them so there can be a delay.
An FPS transfer would be faster (leaves your account straight away, arrives by end of next business day).

In this situation, paying by debit card gives you the best of both worlds - HMRC show the bill as having been paid on the date the transaction was made, but the actual settlement is delayed, thereby giving the taxpayer the minor benefit of having the funds earning a small amount of interest, so there's no need to seek a faster method!

True.  Unless there is a risk you'll accidentally spent the money before it's deducted.

whitesmith

You are allowed to spend the interest though - if you can find anywhere that will accept a fraction of a penny