Cashed in tiny pension > claiming excess tax refund

Blue_Parrot

I have finally received a cheque from HMRC. I think they've got it wrong.

(1) Pension pay out = £16,130.53

(2) Tax deducted = £5,637.05

(3) What they should have deducted = 20% of (1) = £3,226.10

Overtaxed = (2) - (3) = £2,401.95

Amount of cheque = what they refunded = £1,859.25

Where has the other £551.17 gone?

Silvertabby

Blue_Parrot said:

I have finally received a cheque from HMRC. I think they've got it wrong.

(1) Pension pay out = £16,130.53

(2) Tax deducted = £5,637.05

(3) What they should have deducted = 20% of (1) = £3,226.10

Overtaxed = (2) - (3) = £2,401.95

Amount of cheque = what they refunded = £1,859.25

Where has the other £551.17 gone?

1.  What are your other taxable earnings.

2.  Did you apply for the tax refund yourself,  or did you go through a 3rd party claims management party.

Blue_Parrot

1. State Pension

2. Myself. (both these questions were answered in my original post in this thread)

Incidentally, HMRC have already sent me a tax demand for 2022-2023 of £270.60. This will be because the Tax Office and the Pensions Office do not speak to each other.