Income Tax Rebate

[emicen]

Schmit the bed, I just got a letter in saying I paid too much tax and theyre giving some back. When did I pay too much tax, in the tax year 2003-2004 naturally, theyre quick are the old revenue.

Anyways, the point of my post, theyre wanting to put it on as a credit to the 2005-2006 tax year. Is there anyway I can effectively tell them "no, I want a cheque and now please"?

Yes I'd still be getting it back their way but I'd rather have it in my paws now and I do recall getting a cheque off them before for being over taxed.

[Eric Mc]

Give them a call on the number shown on the Statement of Account and ask them to refund the overpayment amount to you. That usually works.

[sgrimshaw]

You're entitled to a refund now, just ask.

Don't forget to ask for interest too.

[emicen]

I remember reading about the interest payable on tax rebates. Is it a fixed percentage with the usual fiscal drag applied or does it reflect the BofE base rate?

[Eric Mc]

It moves in line with the bank base rate - and is tax free.