Thanks for the concern guys but it was legit.
Got an email (due to having paperless notifications set on the government gateway thing where you log in for self assessment and company stuff like VAT returns) saying I had a new message and to log into my HMRC account to access it. No link or anything in the email for security reasons.
Logged onto the gateway and accessed the message about the overpayment and refund due. Went into the side bar options to see a breakdown option showing it was accumulation and interest thereof going back to 2010.
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Bank of HMRC - overpaid tax interest
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Bank of HMRC - overpaid tax interest"
Collapse
-
Originally posted by SueEllen View PostHMRC only send you letters for paying money back even if you contact them by email.
Leave a comment:
-
Check what Gideons family do, they are usually very "shrewd" when it comes to tax matters
Leave a comment:
-
Originally posted by craigy1874 View PostReally just sounds like a scam - i'd be very careful! Please tell me the notification wasn't in the form of a text message!
Leave a comment:
-
This
Originally posted by Hobosapien View PostJust received a message from HRMC saying I'd overpaid tax on my self assessment and was due a refund of over £450, including just under a fiver in interest. Goes back to small overpayments since 2010 apparently when looking at the breakdown.
Wasn't sure they could be used as a savings bank this way, thought interest on overpayments was a myth. The take with one hand (interest on late payments) but not give back with the other (interest on overpayments).
Only downside is they need my personal account to pay into, so they'll then be able to take payments in advance, or whatever rules they come up with for raiding accounts for tax they see due in their crystal ball.
I might make some large payments on account to offset the new divi tax.
Reminds me of my dad once 'fleecing' Dixons by paying back too much on a credit account so he was getting paid interest instead of them. Not sure why they didn't just refund the difference but back then I remember them chasing him to take it back.
Any other alternative saving methods that may be paying more than the typical savings account these days?
Leave a comment:
-
Leave a comment:
-
With my local tax authority (Switzerland), you can pay in advance. On anything up to 150% of the tax owed, you get a reasonable interest rate.
Leave a comment:
-
BLTs are more appealing at the moment. Only pile of bricks I'm likely to buy anytime soon is abroad.
Besides, not all savings are savings. Warchest needs stashing somewhere so the more 'safe' squirrel holes the better.
Leave a comment:
-
Bank of HMRC - overpaid tax interest
Just received a message from HRMC saying I'd overpaid tax on my self assessment and was due a refund of over £450, including just under a fiver in interest. Goes back to small overpayments since 2010 apparently when looking at the breakdown.
Wasn't sure they could be used as a savings bank this way, thought interest on overpayments was a myth. The take with one hand (interest on late payments) but not give back with the other (interest on overpayments).
Only downside is they need my personal account to pay into, so they'll then be able to take payments in advance, or whatever rules they come up with for raiding accounts for tax they see due in their crystal ball.
I might make some large payments on account to offset the new divi tax.
Reminds me of my dad once 'fleecing' Dixons by paying back too much on a credit account so he was getting paid interest instead of them. Not sure why they didn't just refund the difference but back then I remember them chasing him to take it back.
Any other alternative saving methods that may be paying more than the typical savings account these days?Tags: None
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: