HMRC Return 2023

Mrh1019

I could go back over it and check but wondering if I’m best giving it the ten days first? 

[Deleted User]

Dazed_and_C0nfused said:

Mrh1019 said:

It’s stressing me out so much! Honestly I’d have preferred him to be due less so it came sooner. The thought of waiting months for it is not fun.

Are you quite confident the return is accurate?

No mistakes like saying he's exempt from Class 4 NI?

Assuming he's self employed of course.

It does sound very high. An example would be - Income £38500 less expenses £13500. Taxable profit £25000. 

Tax, Class 2 and Class 4 due £3922
CIS tax deducted - £7700

Repayment due - £3778

It's the increased repayment with the same expenses that would concern me.

katalina84

Mrh1019 said:

I could go back over it and check but wondering if I’m best giving it the ten days first? 

Submitted 6th and payment received today. Wouldn’t worry, probably be the next batch of payments. We are CIS and have a large tax return every year, never had a security check so far. 

[Deleted User]

katalina84 said:

Mrh1019 said:

Hi all, new here so sorry for any silly questions. My husband filed his return on the 10th and requested payment on the 11th. It’s still showing as pending and it’s worrying us a little. The past few years he has been due around £1800 back however this year for one reason or another it’s £3800. I’m wondering if it will automatically go to security checks due to the increase? His costs are roughly the same as last year but he earned less. He is under the CIS scheme if that makes any difference? Thank you

I am CIS and get a tax return of around 3-4k each year, never had a security check 

Yes - but the poster indicated that it was generally around £1800 in other years. That’s what would create any possible ‘trigger’. 

Mrh1019

[Deleted User] said:

Dazed_and_C0nfused said:

Mrh1019 said:

It’s stressing me out so much! Honestly I’d have preferred him to be due less so it came sooner. The thought of waiting months for it is not fun.

Are you quite confident the return is accurate?

No mistakes like saying he's exempt from Class 4 NI?

Assuming he's self employed of course.

It does sound very high. An example would be - Income £38500 less expenses £13500. Taxable profit £25000. 

Tax, Class 2 and Class 4 due £3922
CIS tax deducted - £7700

Repayment due - £3778

It's the increased repayment with the same expenses that would concern me.

Yep this is pretty much right. I can’t remember the exact figures but roughly income of £40k, expenses of £13500. Both same as last year but last year he owed some money back due to have a grant during Covid. Otherwise his repayment last year should have been £3500. 

I hope that makes sense. Sorry currently juggling school morning! 

Mrh1019

Is anyone else still waiting for a repayment that filed slightly later? Thanks 

miss_A

Joining the wait for the repayment.  Submitted return on 13th, showed on account as 'not yet used' on 14th, then was able to request repayment 15th.  HMRC account changed to repayment pending on Tuesday, so hopefully sometime next week the payment will be issued....  timeslines running all as per previous years so hopefully no delays or security checks for us!  

[Deleted User]

Mrh1019 said:

[Deleted User] said:

Dazed_and_C0nfused said:

Mrh1019 said:

It’s stressing me out so much! Honestly I’d have preferred him to be due less so it came sooner. The thought of waiting months for it is not fun.

Are you quite confident the return is accurate?

No mistakes like saying he's exempt from Class 4 NI?

Assuming he's self employed of course.

It does sound very high. An example would be - Income £38500 less expenses £13500. Taxable profit £25000. 

Tax, Class 2 and Class 4 due £3922
CIS tax deducted - £7700

Repayment due - £3778

It's the increased repayment with the same expenses that would concern me.

Yep this is pretty much right. I can’t remember the exact figures but roughly income of £40k, expenses of £13500. Both same as last year but last year he owed some money back due to have a grant during Covid. Otherwise his repayment last year should have been £3500. 

I hope that makes sense. Sorry currently juggling school morning! 

It does make sense. Perhaps you are worrying needlessly.

Mrh1019

For anyone worrying (like me), I’ve had the following info 

Mrh1019

I feel a little less worried now! Times are hard we could do with this money!