P55 improvement
Posted: May 17th, 2020, 1:33 pm
In the past, our experience of filling in an online P55 to reclaim excess tax taken from a drawdown lump sum has taken about 6 or 7 weeks before a physical cheque was sent out. There was no alternative means of getting the payment.
However this year my wife filled hers on 19th April. A few days later a letter came from HMRC saying that because of coronavirus they didn't want to send out cheques, so could she please supply (by post!) her bank account number.
The money appeared in our account on 13th May, just over 3 weeks from the original submission. So something to be grateful for...
(P55 link: https://www.gov.uk/government/publicati ... -claim-p55 )
Scott.
However this year my wife filled hers on 19th April. A few days later a letter came from HMRC saying that because of coronavirus they didn't want to send out cheques, so could she please supply (by post!) her bank account number.
The money appeared in our account on 13th May, just over 3 weeks from the original submission. So something to be grateful for...
(P55 link: https://www.gov.uk/government/publicati ... -claim-p55 )
Scott.