HMRC has issued an update regarding payments being processed into taxpayer bank accounts. The tax authority, under the Labour Party government, clarified the rules after a taxpayer inquired about a refund on social media.
Understanding Refund Processing Times
The taxpayer contacted HMRC about a refund they were owed after filing their tax return. HMRC responded by asking when the request was made and directed the individual to a tool on the government website to check expected response times.
The taxpayer stated they submitted the request two weeks prior but had not received a reference number. HMRC then asked if they had seen a screen notification upon submission. The taxpayer replied that the status showed 'allocated to' as 'not yet used'.
HMRC explained: 'This means we've received your request and it's now being processed. Current timescales suggest it can take up to 14 weeks. If you haven't received an outcome after that, an adviser will be able to look into it for you.'
How to Check Your Tax Status
It is always worth checking your details are up to date with HMRC to avoid overpaying tax on your earnings or pension. If you have a query about income tax, you can use the HMRC digital assistant service or call 0300 200 3300, Monday to Friday from 8am to 6pm.
What to Do If You've Overpaid Tax
If you've paid too much tax, HMRC may write to you with a tax calculation letter (P800) or a Simple Assessment letter. These letters typically go out between June and March of the following tax year and explain how much you are owed and how to claim your refund.
