Free Money from HMRC

[fzbucks]

Has anyone else had the cheques from HMRC for doing your PAYE online?

I got my cheque forwarded on from my accountant for £150 tax free - speaking to other contractors, none of them have even heard of it.

from what I know it started a couple of years ago at something like £250 if you did your paye online rather than by post and has dropped by £50 each year until enough people are doing it.

I suspect most of their cheques are being cashed by their accountants

the cheque I was sent from my accountant was sent directly to him - I was pleasantly surprised when I got it but even more surprised that no other contractors I know personally know anything of it.

[Gonzo]

Has anyone else had the cheques from HMRC for doing your PAYE online?

I got my cheque forwarded on from my accountant for £150 tax free - speaking to other contractors, none of them have even heard of it.

from what I know it started a couple of years ago at something like £250 if you did your paye online rather than by post and has dropped by £50 each year until enough people are doing it.

I suspect most of their cheques are being cashed by their accountants

the cheque I was sent from my accountant was sent directly to him - I was pleasantly surprised when I got it but even more surprised that no other contractors I know personally know anything of it.

Received £250 last year.

Initially received a letter from HMRC saying that it was a credit of £250 against the next PAYE payment. That came in July 2006. I wrote to them asking to receive it as a cheque instead. Finally received the cheque in November 2006 (having asked the accountant to chase them up).

Heard nothing about the £150 due this year though.

[Gonzo]

There is a piece here about how long it is taking

http://www.rothman-pantall.co.uk/cgi...m.cgi?id=18858

[lilelvis2000]

I always get those letters. Yeah I think it started at £250 then £150 and then £50. I just take the credit and send them less money.

[Nixon Williams]

The easy way to get this cash is to offset it against what you owe, this is what we do for most of our clients, so their first payment of tax/nic is lower than what would be due.

You can request a cheque if you wish, although this is long winded and would only be advised to do this if there is no other way of getting hold of the money.

Alan

[VectraMan]

£250 last year, £150 this year, but offset against my account (which confused me no end).

It's not tax free as it counts towards your profit and therefore CT. Or have I got that wrong?

[Sockpuppet]

Accountant said it wasn't taxable to me. Appears in your accounts (i.e. the P&L accounts) but disallowed on the CT600.

It was £150 last years, £100 next year and £75 the year after.

[VectraMan]

Accountant said it wasn't taxable to me. Appears in your accounts (i.e. the P&L accounts) but disallowed on the CT600.

It was £150 last years, £100 next year and £75 the year after.

That means I'm £80 better off than I thought I was. Huzzah.

[MobileCheese]

I know my accountant registered to do my PAYE online as I have the activation code letter from the rev, but I havent seen a cheque even though a return has been done already, would you only be due this £ if you paid your yellow slips every month online or does it only refer to the end of year PAYE return ? Also would you expect your accountant to take the £ if they get it ?

[Darren@UptonAccountants]

Paye

Your accountant should not be receiving this....it should either be sent to you directly or deducted from your PAYE payments.....all tax free!