Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to eyeball08,Wondergirly,bofh,johnstevens77,Bhoddhisatva, for Donating to support the site

Getting your tax refund - overpaid tax.

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
UncleEbenezer
The full Lemon
Posts: 10776
Joined: November 4th, 2016, 8:17 pm
Has thanked: 1468 times
Been thanked: 2989 times

Re: Getting your tax refund - overpaid tax.

#507184

Postby UncleEbenezer » June 14th, 2022, 3:10 pm

whatafool wrote:What does an investigation involve? Does HMRC ask you to provide evidence of that years VCT investments (the share certificates etc)? Or can HMRC obtain all that themselves, without any input required from you?

Guessing that might be intended for me ...

I don't know what it involves. But they didn't ask me anything.

Here's what I wrote at the time (May 15th 2009):

Having made some efforts last year to keep my tax liability down, I submitted my tax return (online) on May 6th. And recollecting last year, when nothing happened after submitting it until I returned to the system and asked for a rebate, this time I tried to ask for it straight away.

At first, it told me there was no rebate. OK, I guess it wasn’t yet in the relevant part of the system, a theory supported by its absence from the historical list of my tax returns. So I asked about it using their “ask us a question” form, which promises a reply within 48 hours.

After a couple of returns to the HMRC site, it appeared in the historical list earlier this week, and was also showing a refund had been sent on May 6th (the day I submitted). Great! So it’ll be in the bank account sometime this week, right?

Nope, no sign of it, nor any reply to my message a full week after the 48 hours. So today I tried phoning them. Was rather hoarse with a mild lurgy, but wanted to find out what was going on, and dreading what might happen if they insisted they’d paid it – as stated – on May 6th.

After spending a long time going through a menu of options with a long pause at each option, I eventually spoke to a lady. A barrage of security questions later – anyone listening in is now fully equipped to impersonate me – and she looked up my details. Apparently it’s been selected for some kind of security investigation, whatever that may mean. OK, kind-of nice to hear some kind of checks exist (at least for those of us who are neither bankers nor MPs), but I can’t see how they’d check up on most of it without asking me, which they haven’t done.

But this is where it starts to feel Kafkaesque. Could she give me any kind of ballpark figure for how long I can expect to wait? Nope, she stonewalled with a most infuriatingly meaningless when it’s issued. I tried different units – days? weeks? months? Within your or my lifetime? – but she was absolutely not going to be any more specific. And when confronted with why the website had told me wrongly that the rebate had been sent, and why they never replied to my message, she pleaded ignorance. OK that last one is credible, but infuriating when you’re talking to what is supposed to be the contact for it.

I did just get one piece of information from her: a (postal) address for complaints. That came only after I’d assured her my complaint wasn’t about her personally, and that I wasn’t going to ask her name.

OK, I can take the delay: it’s annoying, but that’s life. But I really do get seriously pissed off at the misinformation and stonewalling. The bloody system shouldn’t tell me it’s been paid when it hasn’t, and they should answer questions within the promised 48 hours.

Grrrrrr …..

On a philosophical note, I regard it as my strong duty to humanity and to my country to ensure my money goes to better places than HM treasury.

UncleEbenezer
The full Lemon
Posts: 10776
Joined: November 4th, 2016, 8:17 pm
Has thanked: 1468 times
Been thanked: 2989 times

Re: Getting your tax refund - overpaid tax.

#508030

Postby UncleEbenezer » June 18th, 2022, 7:38 am

UncleEbenezer wrote:Fingers crossed for a refund within the month. Just an 80p difference between tax paid and tax relief this year, which I call almost perfect :D

Refund appeared in my bank account yesterday, a few hours short of one week after I submitted the request.

Verdict: it's a faff, and it's hard to see how it adds any more security. But in the words of the late, great Douglas Adams, Mostly Harmless.

127tolmers
Lemon Slice
Posts: 321
Joined: November 22nd, 2016, 7:32 pm
Been thanked: 241 times

Re: Getting your tax refund - overpaid tax.

#610499

Postby 127tolmers » August 22nd, 2023, 7:48 pm

Having waited for nearly 4 months for my tax refund which has been flagged all the time as pending, I rang HMRC. No joy; they have suspended their phone line service until 4 Sept!

Undeterred I pressed on with their IT help line. I got a very helpful lady who directed me to "Ask HMRC online". She said you will get a robot response but keep typing "speak to an adviser". I did and immediately got one who chatted on line for 20 mins and looked up my file, found no queries outstanding and sent an internal email to the case handler to expedite payment. He feared this might take another 8 weeks before I got the money. Apparently I should have started this process earlier.

However at least I feel better for having done this.

https://www.gov.uk/government/organisat ... assessment

I will report back with any results. Has anyone else tried this chat service?

SteveJ
Posts: 4
Joined: November 15th, 2021, 6:53 pm
Been thanked: 3 times

Re: Getting your tax refund - overpaid tax.

#610537

Postby SteveJ » August 23rd, 2023, 7:51 am

Having submitted by tax return online in April I heard nothing from HMRC until three days ago when I received a message that the refund would be paid into my bank account. This was received yesterday.

Boots
2 Lemon pips
Posts: 183
Joined: August 1st, 2021, 2:51 pm
Has thanked: 154 times
Been thanked: 119 times

Re: Getting your tax refund - overpaid tax.

#610568

Postby Boots » August 23rd, 2023, 10:06 am

127tolmers wrote:Having waited for nearly 4 months for my tax refund which has been flagged all the time as pending, I rang HMRC. No joy; they have suspended their phone line service until 4 Sept!

Undeterred I pressed on with their IT help line. I got a very helpful lady who directed me to "Ask HMRC online". She said you will get a robot response but keep typing "speak to an adviser". I did and immediately got one who chatted on line for 20 mins and looked up my file, found no queries outstanding and sent an internal email to the case handler to expedite payment. He feared this might take another 8 weeks before I got the money. Apparently I should have started this process earlier.

However at least I feel better for having done this.

https://www.gov.uk/government/organisat ... assessment

I will report back with any results. Has anyone else tried this chat service?


@127tolmers and @SteveJ Awful service from HMRC! They have us over a barrel, but they can't even be bothered to do their side of the deal.

I've been lucky so far and only needed to wait a couple of weeks, more or less.

Karellan
2 Lemon pips
Posts: 205
Joined: November 4th, 2016, 2:42 pm
Has thanked: 85 times
Been thanked: 18 times

Re: Getting your tax refund - overpaid tax.

#610646

Postby Karellan » August 23rd, 2023, 4:47 pm

127tolmers wrote:Having waited for nearly 4 months for my tax refund which has been flagged all the time as pending, I rang HMRC. No joy; they have suspended their phone line service until 4 Sept!

Undeterred I pressed on with their IT help line. I got a very helpful lady who directed me to "Ask HMRC online". She said you will get a robot response but keep typing "speak to an adviser". I did and immediately got one who chatted on line for 20 mins and looked up my file, found no queries outstanding and sent an internal email to the case handler to expedite payment. He feared this might take another 8 weeks before I got the money. Apparently I should have started this process earlier.

However at least I feel better for having done this.

https://www.gov.uk/government/organisat ... assessment

I will report back with any results. Has anyone else tried this chat service?


I also had a bit of trouble this year like last year when as I didnt have a current passport had to ask them by phone. I think that the system had changed subtly and I made a mistake in understanding what to do and just waited for weeks. I then delved in around and around eventually finding somethng else that I needed to do. I tried this but did not put the name on my bank account correctly (well flustered by now). The HMRC advice was to wait a month as it should take two weeks at least which I did.Then tried to contact them by phone when nothing happened. This went horribly wrong and I too was told that the telephone service had been suspended (lack of use ??? - improbable). It was suggested that I tried HMRC online which I did and the AI front end ummed a bit but put me through to a real person on the chat line in minutes. He sorted the problem , I think it was a mistake in the naming but that is not the error I was told. It was actually painless and worked well. I normally find the HMRC website brilliant but this and last years changes have the feel of the utilities websites with bamboozeling and awkwardness. I am sure many people find these things stressful. I was not impressed with the changes of the last few years. Its getting harder to get ones rightful paid tax back. It was much easier a few years ago.

JohnB
Lemon Quarter
Posts: 2505
Joined: January 15th, 2017, 9:20 am
Has thanked: 689 times
Been thanked: 1004 times

Re: Getting your tax refund - overpaid tax.

#610649

Postby JohnB » August 23rd, 2023, 5:02 pm

Hmrc demanded endless driving licence and passport details. Took 10 days for payment to appear in my account

UncleEbenezer
The full Lemon
Posts: 10776
Joined: November 4th, 2016, 8:17 pm
Has thanked: 1468 times
Been thanked: 2989 times

Re: Getting your tax refund - overpaid tax.

#612693

Postby UncleEbenezer » September 2nd, 2023, 10:44 am

Just for a data point, this year was particularly quick and easy for me. Didn't have to jump through any hoops, and my account was credited within a week of submitting my tax return.

Possibly helped by the fact that all material information on my tax return is almost certainly already known to their system. I have an idea they are directly informed about VCT and EIS subscriptions, as well as regular income and pension contributions, and charity contributions where gift aid applies.

127tolmers
Lemon Slice
Posts: 321
Joined: November 22nd, 2016, 7:32 pm
Been thanked: 241 times

Re: Getting your tax refund - overpaid tax.

#616287

Postby 127tolmers » September 21st, 2023, 12:09 pm

My bank was finally credited with my (big) refund yesterday exactly as submitted; no formal word yet from HMRC. My self assessment website shows no late payment interest from HMRC. It is 4 weeks since I used their chatline which thus appears to work. They had said it could take up to 8 weeks.


Return to “Venture Capital Trusts (VCT's)”

Who is online

Users browsing this forum: No registered users and 26 guests