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So I get my tax rebate when???

Blackavar
Blackavar Posts: 211 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Pensions, annuities & retirement planning
Having made a withdrawal from my pension pot last year I knew I would be on Emergency Tax code so would need to reclaim.
So I contacted HMRC to advise and got a lovely patronising letter saying that it it would be 'reviewed in due course'.
On viewing my HMRC account, I will be contacted from June to September to advise overpayment/shortfall.
This is £2,500 that I was sort of counting on - This money, my money could have been earning interest etc. How can HMRC be so slack in sorting this?

Comments

  • Dox
    Dox Posts: 3,116 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Plenty of media coverage about this, so 'sort of counting on' was always going to be optimistic.

    For 'slack' read 'hopelessly understaffed (and often undertrained)'.
  • p00hsticks
    p00hsticks Posts: 14,895 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I was under the impression that - if you were confident that you were only going to make a single withdrawal - that there is a form you could have completed at the time and submitted to get the tax returned immediately (or at least within a few weeks).

    https://www.gov.uk/government/publications/flexibly-accessed-pension-payment-repayment-claim-p55

    It may be too late to do this now that the tax year has ended - you may have to wait to be included in the general rebate calculations that happen in summer/autumn
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    I would phone., ive always found them more responsive that way.
  • Peelerfart
    Peelerfart Posts: 2,177 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    AnotherJoe wrote: »
    I would phone., ive always found them more responsive that way.

    That's my experience too. Email gets fobbed off with stock answers. The staff,once you get through, were quite good to be fair.

    That was in my case anyway.
    Space available for rent
  • clivep
    clivep Posts: 704 Forumite
    Part of the Furniture 500 Posts Name Dropper
    We submitted our P55's for the current tax year online on 9th April. Cheques refunding the tax received 2nd May.
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