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Will HMRC Pay Me Interest?
Comments
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So can you claim a refund for the £881.83, and then pay it 31 Jan 2027?
I presume HMRC pay you interest on £1088.18 between 31 Jan 2026 and 31 July 2026?
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It also includes fictional stuff like (for premium bonds) "The current prize rate of 4.65% (estimated for 2026)…" but the one that was previously linked by that poster was even more drivel-laden, with risible comments like "You can still transfer money between ISA providers, but transfers from cash ISAs to other cash ISAs made after April 2026 will count towards your £5,000 “current-year ISA subscriptions” limit"!
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No I’m only in credit by £206.35 which yes I could take as a refund just now.
My 2 POAs were for £1294.53. These were reduced to £1088.18 so I’d paid £206.35 too much.
HMRC then decided that as the 2nd POA would be reduced by the £206.35 credit to £881.83 then I should only pay the £206.35 in July ( basically £0 as the credit will pay it) and the remainder to be paid in January 2027.I’ve no idea if they will pay me interest on that £206.35.
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Are you quite sure about that?
The way you have explained it makes it sound like the final position (ignoring payments you have made) is as follows,
1st POA for 2025/26 £1088.18
2nd POA for 2025/26 £206.35
Balancing Payment for 2025/26 £881.83
Which seems highly unlikely, more more likely that that the £881.83 is going to be collected via your 2027/28 tax code (which would be explained on your Self Assessment statement of account).
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Ok that makes no sense to me.
You originally said your 2nd POA had been reduced to £206.35, so judging by other informative posts on this thread I assumed your 1st POA had also been reduced to £206.35 (and presumed you must have already paid some of your 25/26 tax liability by PAYE) with a balancing payment due in Jan 27.
You are now saying both your POA have been reduced to £1088.18. If that was the case I can't see how you would have nothing to pay in July, as you would only have a £206.35 credit from the 1st POA, leaving £881.83 to be paid to bring the 2nd POA up to £1088.18 also. Something doesn't add up.
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I agree either way this.
The July payment on account must be the same as the first one in January.
Either you misinterpreted what was said or you spoke to someone who gave you the wrong information
If yiu have submitted your return then you can check your statement of account ( in your personal tax account online) to confirm how much is due in July.0 -
Tax return submitted hence why the figures have been amended. My statement of account says exactly what I have described and was explained to me by the SA agent. I have £0 to pay in July 2026 and the balance in January 2027.
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Nothing is going to be collected by my tax code as I asked for it not to be and my statement of account confirms this.
Whether it makes sense or not that is what is happening. I’ve paid £1294.53 in January 2026 and will pay £881.84 in January 2027 which covers my tax liability of £2176.37 as per my 2025/26 tax return. My July 2026 2nd payment on account of £1294.53 has basically been reduced to £0 covered by the £206.35 credit and the balancing payment due now in January 2027.
Perhaps it’s down to there being no POA for 2026/27. I have no idea but that’s what is happening.
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Can you provide a screenshot of your Self Assessment account showing this as it just doesn't make any sense. Not based on the past 30 years of Self Assessment anyway.
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Wht is there no poa for 26/27?
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