Good News - FINALLY

ANGLICANPAT

We sold   in 2022  .    £18k  CGT   to pay  so  beginning of Oct 22   paid it  .  To cut a story short  , the transaction looked like it had failed.  Rang bank immediately   ,explained  and they said , it would not be going through , so to repeat.      Repeated  .   Both transactions  were executed . Rang  bank  and they said    nothing they could do , just ring  HMRC  next day and explain and wait for refund. Sounds simple doesnt it .  I by then had had two confirmation emails from HMRC for the monies , so no dispute on that score. 
   Rang next day after at least an hours waiting to get through ,and  told them  - they said write a letter  with copies of  all the details and proofs . 
Between   that date and now ,  I cant tell you how many 45min wait   tel calls ( some stating no knowledge of my case,   some helpful  and promising action)  plus periodic letters to them  and  two sets of  proofs , most  sent  24hr delivery but  I got no kind of  communication back whatsoever  . 

Until --  a  monthish  ago  ,  I finally got an answer  acknowledging  they were well behind on all their  communications  /complaints   , but  if I sent bank details they would refund. ( They already had bank details)  but that HMRC dont pay interest .     A week ago ,  the basic  money arrived in the account) . In the meanwhile Id written asking to have the complaint  put up a level to be reconsidered for  interest  (since Id worked it out as  c£900 as rates were high then) 
  Last week a further  £500  arrived in the bank  as  just a good will type payment   . Not  ideal, but Im just so relieved its  all over  as for  the whole time I was worried whether  anything would be clawed  back at all.  This system like so many others in the country,  is really struggling and broken and I really feel for the people  who have to work in it .Im sure half of them  are just forced  into  jobs only marginally trained  , just to get them off the gov's unemployed  lists- it must be hell . 

Bookworm105

hmmm, bad luck !
I can understand HMRC's stance that "overpaid" tax does not receive interest because they are not going to act as a bank through which people can "deposit" excess money and be "rewarded" with interest given their interest rate can be relatively "competitive" at times. 

but in your case, where the problem was caused by them, your £500 is fully deserved and well done you for fighting for it.

Jeremy535897

Bookworm105 said:

hmmm, bad luck !
I can understand HMRC's stance that "overpaid" tax does not receive interest because they are not going to act as a bank through which people can "deposit" excess money and be "rewarded" with interest given their interest rate can be relatively "competitive" at times. 

but in your case, where the problem was caused by them, your £500 is fully deserved and well done you for fighting for it.
Sadly of course though it is itself taxable 🙄

Why is it taxable? It isn't interest. It's compensation for stress and inconvenience. There's no underlying asset.

ANGLICANPAT

Had a quick look in the HMRC manuals  , and hopefully its exempt  . Be an outrage if it wasnt  lol! 

Jeremy535897

ANGLICANPAT said:

Had a quick look in the HMRC manuals  , and hopefully its exempt  . Be an outrage if it wasnt  lol! 

Particularly as you don't pay tax on interest HMRC actually pays you!