Still waiting to hear from HMRC

CaptainWales

Having logged on to my online account, it says HMRC are yet to calculate my tax for the last financial year. So at the moment i dont know if i owe them anything or vice versa. I don't do self assessment. Should i be worried having not heard by now? Seem to be taking a long time this year.

Sarahspangles

I wouldn’t worry, many of us are still waiting this year. More people are paying tax due to things like pensions outstripping their personal allowance, or tax on savings interest. HMRC are busy. My OH received his in early December, three months later than the previous year. I’m still waiting. 

Dazed_and_C0nfused

For some reason this doesn't seem unusual this year.

Frustrating though it may be there are (small) advantages with there being a delay. 

You will eventually be owed interest on any tax overpaid (for 2023-24 this is due for refunds paid after 31 January 2025).

And tax owed to HMRC might be payable later than would otherwise be the case.

jem16

Sarahspangles said:

I wouldn’t worry, many of us are still waiting this year. More people are paying tax due to things like pensions outstripping their personal allowance, or tax on savings interest. HMRC are busy. My OH received his in early December, three months later than the previous year. I’m still waiting. 

My Dad's tax code for this year has been amended to take into account the savings interest that he will probably owe. Needless to say they are basing it on last year's interest even though it's unlikely to be as high as last year. They have still to calculate last year's tax though but they obviously know the details.

CaptainWales

Thanks all, that has put my mind at ease.

Hoenir

jem16 said:

Sarahspangles said:

I wouldn’t worry, many of us are still waiting this year. More people are paying tax due to things like pensions outstripping their personal allowance, or tax on savings interest. HMRC are busy. My OH received his in early December, three months later than the previous year. I’m still waiting. 

My Dad's tax code for this year has been amended to take into account the savings interest that he will probably owe. Needless to say they are basing it on last year's interest even though it's unlikely to be as high as last year. They have still to calculate last year's tax though but they obviously know the details.

You can advise and update the figures through your Personal Tax Account. HMRC then amend your current tax code. 

molerat

CaptainWales said:

Thanks all, that has put my mind at ease.

Your mind has been put at ease by HMRC continuing the ever increasing spiral of delay to the point where the previous year reconciliation is catching up with the future year calculation ?

Dazed_and_C0nfused

Hoenir said:

jem16 said:

Sarahspangles said:

I wouldn’t worry, many of us are still waiting this year. More people are paying tax due to things like pensions outstripping their personal allowance, or tax on savings interest. HMRC are busy. My OH received his in early December, three months later than the previous year. I’m still waiting. 

My Dad's tax code for this year has been amended to take into account the savings interest that he will probably owe. Needless to say they are basing it on last year's interest even though it's unlikely to be as high as last year. They have still to calculate last year's tax though but they obviously know the details.

You can advise and update the figures through your Personal Tax Account. HMRC then amend your current tax code. 

I don't think it is quite that simple.  It probably should be but HMRC want details for each individual account and you don't always know which accounts they have figures for.

badmemory

I have always received my simple assessment in July, even during covid, but nothiing so far.  I rang the simple assessment line & they didn't even have my state pension on there at end November.  Back then I was really stressing & wondering if it had got lost in the post.  Now I joke about fining them £100 if it is after 31st Jan & thinking great the money is getting interest.  The only thing I worry about now is how busy they are going to be when I ring to tell them what they have wrong.  I am however waiting for those articles in the papers about how late expected revenues are.

jem16

Hoenir said:

Gjem16 said:

Sarahspangles said:

I wouldn’t worry, many of us are still waiting this year. More people are paying tax due to things like pensions outstripping their personal allowance, or tax on savings interest. HMRC are busy. My OH received his in early December, three months later than the previous year. I’m still waiting. 

My Dad's tax code for this year has been amended to take into account the savings interest that he will probably owe. Needless to say they are basing it on last year's interest even though it's unlikely to be as high as last year. They have still to calculate last year's tax though but they obviously know the details.

You can advise and update the figures through your Personal Tax Account. HMRC then amend your current tax code. 

I would have to be guessing at the amount for this year though to do that. 

SiliconChip

Mine finally arrived today, so presumably HMRC have received and reconciled interest payments from all of the banks that I had accounts with in 23/24 tax year. Their figure is about £120 more than what my records show (on a total of around £7K so not too far out). I expect the 24/25 calculation to be at least as complicated due to starting state pension in November 24.

I expect it can be found elsewhere on the board but to save a search does anyone know the process for requesting a breakdown of the interest figures that have been used by HMRC? Does it need a SAR or is there something less formal than that?