PAYE and refunds

Sarahspangles

badmemory said:

Sorry I didn't phrase it very well.  If they date the simple assessment letter say yesterday then the tax isn't due for payment until 13th March (3 months). That means the money can stay in my savings account getting interest for another 2 months until March.

If only they had allowed me to continue filing self assessment as I wished it would have had to be paid by 31st January.  When I get the simple assessment I will still have to ring them (oh the joy) & correct it.  It has never been right yet & as they never list where they get their figures from I can't just say you have this one item wrong, Although it must be more than one or I would have worked it out by now.  So far over on income & under on taxable savings.

I knew what you meant.

‘Over on income’ - yet that seems easier to get right than interest.

badmemory

It isn't much over but they never get the state pension figure right & I don't see why I should pay even 20p more in tax than is due.  I wouldn't pay 20p under either.  I did overpay last year as when I got the letter I was due to go in for a (very successful) op & couldn't be bothered with sitting in a phone queue.

For those wondering why the error.  DWP notify HMRC of your weekly state pension figure.  They then multiply it by 52.  This is normally incorrect.  It should normally be 51 weeks of the new figure & 1 week of the old figure.  Doesn't sound like much does it.  But if the increase for the year is 4.1% on £200 a week that is over £8 which is £1.60 in tax.  Again doesn't sound like much.  So say 5 million pensioners are paying tax now by simple assessment that is £8million.

Dazed_and_C0nfused

badmemory said:

It isn't much over but they never get the state pension figure right & I don't see why I should pay even 20p more in tax than is due.  I wouldn't pay 20p under either.  I did overpay last year as when I got the letter I was due to go in for a (very successful) op & couldn't be bothered with sitting in a phone queue.

For those wondering why the error.  DWP notify HMRC of your weekly state pension figure.  They then multiply it by 52.  This is normally incorrect.  It should normally be 51 weeks of the new figure & 1 week of the old figure.  Doesn't sound like much does it.  But if the increase for the year is 4.1% on £200 a week that is over £8 which is £1.60 in tax.  Again doesn't sound like much.  So say 5 million pensioners are paying tax now by simple assessment that is £8million.

You may be correct about some elements of that (for state pensioners of a certain age, not them all) but you are out by roughly a factor of ten when it comes to those who get a Simple Assessment.

And not all of those will have State Pension.

https://www.icaew.com/insights/tax-news/2024/jul-2024/simple-assessments-are-on-their-way

badmemory

Very interesting thank you, I really did think there would be more than than & had in fact assumed that it was the increase in numbers that was part of the reason for the delay.  It has however been a long 6 weeks from the end of July to now.  

I was worried initially that the letter had gone astray but rang & according to the simple assessment line there is nothing showing on my account.  I am unfortunately unable to access my government gateway account.  I have one which they have deleted after three years of lack of use but cannot open one because I already have one.  Catch 22 in action.

Dazed_and_C0nfused

badmemory said:

Very interesting thank you, I really did think there would be more than than & had in fact assumed that it was the increase in numbers that was part of the reason for the delay.  It has however been a long 6 weeks from the end of July to now.  

I was worried initially that the letter had gone astray but rang & according to the simple assessment line there is nothing showing on my account.  I am unfortunately unable to access my government gateway account.  I have one which they have deleted after three years of lack of use but cannot open one because I already have one.  Catch 22 in action.

Does anything here help re access to your Personal Tax Account?

https://www.litrg.org.uk/tax-nic/how-tax-collected/online-tax-accounts

Sarahspangles

I finally received the app notification and email this morning, and have requested my repayment. It’s nearly three months since final details were supplied. But at least that’s 2023/24 closed.

I’m now waiting for my 2024/25 refund. I claimed this via the new online process on 9 February and they say to expect a response in 28 working days. I think today is day 24. I’m hoping it’s repaid in March so I can go into retirement ‘straight’ with the taxman!