Are you expecting a tax repayment? Check HMRC repayment arrangements

In April 2015, HMRC systems were brought in line with banking industry standards so that, where possible, repayments are made back to the latest credit or debit card used to make a payment on the self assessment accounts.

Although it does mention this in the notes of the tax return, and during the process, many taxpayers are at risk of being caught out and suffering hardship as a result.

There are discussions taking place, but they suggest that there is no way of stopping HMRC’s system automatically attempting to repay a card.  In such circumstances it is very important that taxpayers are aware of this and that they understand that their tax repayment may not be made where they are expecting it to be.

At A J Bennewith & Co we will ask you to check for your repayment and let us know if there have been any issues.  It is important that you have informed us of any bank details when a repayment needs to be issued.  We will ask you to check the information on page TR6 of the return, before signing it and returning it to us.

If you use an online self assessment account please watch out for this.  If necessary you can contact us to complete your self-assessment on your behalf.  Please email, or telephone us for a quote if necessary.

Remember the deadline is 31 January 2018, for the return and any liabilities due.