Had A Letter Fro The Inland Revenue This Week.........

[10ClarionSt]

..........telling me they owe me £38 as I've paid too much tax in the previous year. This baffled me slightly because they sent me one the previous year saying I owed them £56. Now we come to the competition. How can I them one year but they owe me the next? Answers on a postcard to HMRC Funny Farm, but try to make it get there when they're not brewing up or playing cards.

[mikey4444]

10c....I have recently been told that I am due a tax rebate of just short of £1000 !

Don't look a gift horse in the mouth !

Seriously, tax for each year is always estimated, as the HMRC won't actually know how much tax to take, until the following year. This is what happened to me....I paid too much tax in 2016-2017, so they are refunding me now.....I have about 4-5 employers, fluctuating every few weeks, so this has happened before.

[Tilly2]

All I know is they get on your wick! Why can't they sort it out once and for all with the correct tax code. Every year I get the same thing. It drives me daft!

[Islay]

Easily, are you self employed? If you are then they will not be able to confirm your actual tax until several months after year end.
Why the Funny Farm comment - rude on several levels!

[Tilly2]

I'm not self employed. I am retired and have my pensions. This has been the case for three years and yet still my tax payment is not correct at the end of the tax year. You'd think by now they would have sorted out what my income is.

[Islay]

Is your pensions from a private company?
If so they will put you on one tax code whilst waiting for an update from the pension office of the company and then they will have to update it.
they are only as good as the information then get!

[Tilly2]

It's an index linked Teachers Pension, Islay, which does increase every year. Is that the problem then?

[Islay]

Aye Tilly my father has the same problem with the Air force pension, he gets several tax codes because he is waiting for the payroll office to give the info to HMRC

[Tilly2]

Ah, okay, Islay. Thank you.

I just have to grin and bear it then?

[Islay]

Well I wouldn't say that because Dad had to get a refund this year as between the 2 they had cocked it up big time!!
if you are not sure and not convinced it is right - do a web chat with them and get it sorted!

[Tilly2]

Thanks for the advice, Islay.

[fiction-factory]

State pension can also copliacte things a sthat isn't taxed at source. It's a particular problem in the first year (part year). Changes in bank interest can also complicate things
I think they do a good job overall - I have an online account so I can make sure my allowances are allocated in the best way as I have seven or eight sources of income (agency employers and pensions) and they and I can see at a glance how much I have earned from each at any point.

[Tilly2]

That sound very organised, FF but then again you could get in a right pickle if you didn't record it all, I suppose.

[Khandro]

I am a beneficiary from an estate of a distant aunt and there has been a year's delays and I don't know how many forms I have signed because they owe me 18 pence !!!

[Islay]

which you probably won't ever get Khandro

[fiction-factory]

Yes Tilly, it's hard as my earnings from each employer fluctuate depending on if and where the work comes from so it's not easy to predict. When I didn't keep on top of it I ended up paying a lot of BR/emergency tax then getting a rebate of several hundred pounds (or one year owing a bit) in the following June but by keeping on top of it I generally pay close to the right amount as I go along so any June rebate is around £50

[ToraToraTora]

the basic problem is that they are always doing it early as an estimation.

[Peter Pedant]

rejoice baby !
erm easily explained
this year they have taxed you on £65 that you didnt earn
and the previous year you had earned £100 and yet to pay tax on it
( assuming the marginal rate of 40%)

My balancing amounts are more four figures

Jan 17 July 17 kuppla thou each as the figures were 'wrong' last year
yeah assessed as PAYE + £4,000 this year - you just have to do it.
[ not having the ready money is NOT an adequate reason for delay in paying a due tax bill]

biggest rebate was £12,500- I had been away for a year with ca - and they were slow to adjust my tax code - actually they did nothing about adjusting it so the year I went back I paid far too little tax and the NEXT year had huge balancing amounts and the year after that huge rebates

you will recognise this as classic chaotic behaviour
( or negative feedback that erm isnt working)

[Peter Pedant]

jesus I fill out a tax form every year
knowing if I dont - I will over pay tax to that nice Mr Hammond who will spend it with gusto !