SA Tax over payment refund - how soon?
Discussion
Eric Mc said:
They are usualy very fast with processing refunds - unless they spot some glaring error in the data you have provided.
But not if you don't give them bank details to give refunds automatically - ring a bell??
OP - So long as your return passes initial scrutineering, the refund will be in your bank account within 10 days of your online submission.
David
sumo69 said:
Eric Mc said:
They are usualy very fast with processing refunds - unless they spot some glaring error in the data you have provided.
But not if you don't give them bank details to give refunds automatically - ring a bell??
OP - So long as your return passes initial scrutineering, the refund will be in your bank account within 10 days of your online submission.
David
Why do you insist on having little digs at the wy I chose to handle my clients' affairs?
It does seem ratter petty, to be honest.
Eric
In a seperate thread, you made a big issue about the lack of security if you supply bank details to HMRC - that of course results in delayed refunds as additional checks are made if the repayment has to be raised and posted.
Now you say you have a number of notices of repayment - excellent but I will give £50 to charity if they were from any return submitted in the past 3 working weeks that didn't give bank details.
I have had several this week - the returns were submitted within the last 10 working days.
I will leave it to those reading whether this is having a dig or a way to improve client service that you are refusing to utilise?
Now back to those returns...
David
In a seperate thread, you made a big issue about the lack of security if you supply bank details to HMRC - that of course results in delayed refunds as additional checks are made if the repayment has to be raised and posted.
Now you say you have a number of notices of repayment - excellent but I will give £50 to charity if they were from any return submitted in the past 3 working weeks that didn't give bank details.
I have had several this week - the returns were submitted within the last 10 working days.
I will leave it to those reading whether this is having a dig or a way to improve client service that you are refusing to utilise?
Now back to those returns...
David
Three more notifications of refunds in today's post - all from returns submitted within the last two weeks.
You can donate the £50 to a charity of your choice.
I've done all my tax return work now - yippeee. OK, I still have to submit a few but all the remaining ones are with clients for approval so hopefully, everything will be submiited without too much fuss well before the 31st.
Mind you, it's taken four weeks of solid weekend working to make sure that they were all done. The tribulations of being an accountant in practice.
You can donate the £50 to a charity of your choice.
I've done all my tax return work now - yippeee. OK, I still have to submit a few but all the remaining ones are with clients for approval so hopefully, everything will be submiited without too much fuss well before the 31st.
Mind you, it's taken four weeks of solid weekend working to make sure that they were all done. The tribulations of being an accountant in practice.
Eric
Receiving the notification is 1 thing, your client receiving their repayment order is another as all the checks and manual processes are still to happen - the repayment notice is processed and sent as the returns are captured on the HMRC systems.
Perhaps you can check with your clients when they actually RECEIVE the refunds?
If its within the 15 days of submission, happy to keep to my commitment.
Re the returns, I have only 1 that is not up to draft stage - my client decided to go to Africa for 3 months!
David
Receiving the notification is 1 thing, your client receiving their repayment order is another as all the checks and manual processes are still to happen - the repayment notice is processed and sent as the returns are captured on the HMRC systems.
Perhaps you can check with your clients when they actually RECEIVE the refunds?
If its within the 15 days of submission, happy to keep to my commitment.
Re the returns, I have only 1 that is not up to draft stage - my client decided to go to Africa for 3 months!
David
I do know how the system works.
I will not debate tax refunds any further. You are happy to do things one way. I am happy to do things in a different way.
So far my clients seem to be very satisfied with what I do for them and how I do it. If they want me to do things differently, I will.
I will not debate tax refunds any further. You are happy to do things one way. I am happy to do things in a different way.
So far my clients seem to be very satisfied with what I do for them and how I do it. If they want me to do things differently, I will.
Just be aware that HMRC operates on a "refund now - check later" basis.
Just because they have given to you the money YOU told them they owed you (that's why it's called "SELF Assessment") does not mean
a) that the amount calculated by you was correct
b) they won't check the return at later date and recalculate the liability position
Just because they have given to you the money YOU told them they owed you (that's why it's called "SELF Assessment") does not mean
a) that the amount calculated by you was correct
b) they won't check the return at later date and recalculate the liability position
It's ok, it was very straight forward.
Was self employed, then employed, had a tax code of 0T so no allowance, claimed that back.
Spoke to them this avo and got my tax code corrected.
So question for you lot again, for 2012/13 i have earned my wages and paid tax on it all once again (same as 2011/12, they didn't change my tax code, was still 0T).
Now that i have an ammended tax code, will the "allowance" (standard £8k) be used up in Feb/March wages and i will get that back in those wages and then the balance after year end on the SA?
Or will i now move to the new tax code, and have to claim the full lot back at year end as i did with 2011/12?
Was self employed, then employed, had a tax code of 0T so no allowance, claimed that back.
Spoke to them this avo and got my tax code corrected.
So question for you lot again, for 2012/13 i have earned my wages and paid tax on it all once again (same as 2011/12, they didn't change my tax code, was still 0T).
Now that i have an ammended tax code, will the "allowance" (standard £8k) be used up in Feb/March wages and i will get that back in those wages and then the balance after year end on the SA?
Or will i now move to the new tax code, and have to claim the full lot back at year end as i did with 2011/12?
Only if the tax code is cumulative and not on a Month 1 basis.
Easy way to tell is if the Employers copy of the tax code says, for example, 810L or 810L M1 - the first means all of your cumulative allowance will be given when calculating the monthly PAYE and the second means you get 1/12 of the tax free amount.
David
Easy way to tell is if the Employers copy of the tax code says, for example, 810L or 810L M1 - the first means all of your cumulative allowance will be given when calculating the monthly PAYE and the second means you get 1/12 of the tax free amount.
David
OlberJ said:
Hmmm, on my Payslip it has the 0T and the boy at HMRC says they are changing it to a 10L code.
On my P60 from April 2012, it said 0T M1.
I'll check with my employer and see what they say. Cheers folks.
You were on a Month 1 basis in 2011/12. Itb looks like you aren't for the current year (2012/13).On my P60 from April 2012, it said 0T M1.
I'll check with my employer and see what they say. Cheers folks.
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