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Income Tax Refund

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Comments

  • I am very pleased your husband will have his refund soon.

    I don't think anyone was suggesting your husband had committed any tax fraud.

    I think when you said HMRC had raided your savings and took £10400 it was misinterpreted as if HMRC had directly accessed a bank account and removed the money!

    I assume a demand for that amount eventually reached him and he withdrew the money from a savings account to pay it.
     
    £2k interest seems to be more than I would have expected so perhaps an additional amount over the statutory rate is being paid as compensation because of a justified complaint.


  • badmemory
    badmemory Posts: 9,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    8% for 2.5 years on £10k would be £2000.
  • That calculation is correct, however, statutory repayment interest has never been 8% in the relevant period, it is currently 4.25% hence my comment.

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