If you are a taxpayer who lives in the United Kingdom, you might receive a notice called the P800 refund. It is a letter from the HMRC which is the tax office informing you how much or if at all you overpaid on your taxes.
Let’s discuss step by step guide on everything you have to know on P800 refund, in easy understandable language.
What Is a P800 Refund?
A P800 refund is a letter and/or form from Her Majesty’s Revenue and Customs of the United Kingdom, the nation’s tax organisation. It informs the individual whether they have paid extra tax that is not necessary.
This refund notice proves that the government has some amount of money to refund to you. It is something real that can help you recover whatever excess tax you may have paid.
P800 Refund: A Guide on Why People Request for Refund
The following factors may lead to paying excess taxes:
- When you switched employers, and your new company took a smaller portion of your money in taxes.
- You were working in several places and, therefore, you were paying taxes but they were calculated in the wrong way.
- You got an incorrectly high tax code.
- You had some benefits or pension income and as a result, there was a mistake made in the way your taxes were calculated.
- HMRC checks your taxes each year and, if any errors are found, they will write to you a P800 refund letter.
How does the P800 tax refund work?
The P800 tax refund process is quite easy to follow. HMRC assesses your income and the amount of tax you have paid in the twelve months of the tax year starting from 6 April of a specific year to 5 April of the following year. If they discover that you have paid more than required, you will receive a P800 notice.
The P800 notice shows:
How much you earned
How much tax you paid
In case there is an error and you were required to pay an extra tax on your income,
If you overpaid, HMRC will let you know and offer to repay the money to you in some way. The tax refund of P800 can be remitted to the bank account or by cheque.
Is P800 Refund Genuine?
Indeed, a P800 refund is possible. So, the common question of whether it is genuine arises due to the existence of scams about taxes, nevertheless, a real tax refund p800 will arrive from HMRC. To ensure it’s genuine:
Look for the HMRC logo.
Make sure that your name and tax details are correct.
Note that HMRC will never call or write to you asking for your banking details. If you want to change anything, you will log in to your HMRC account.
How to claim p800 refund online?
In the case you receive a P800 letter there will be information on how to reclaim the refund. Here’s how you can claim it online:
HMRC login – Visit the official HMRC website
Go to IRS.gov, sign up for the [self-] setup process using dice, not images.
Check Your P800 – Learn about your P800 notice and how to access it. HMRC will inform you of how much they will pay you.
Refund Process Option – Available options for getting back the money are in the bank account or cheque.
Claim Submission – Go through the path of verifying the refund request.
If you want help, you can contact HMRC for help.
P800 Refund Processing Time
Different claims may take different time to elapse before receiving a P800 refund. In most cases if you opt for bank transfer, it may take from 7 to 10 days. Direct payment is the fastest, while if you would like a check, it can take up to 28 days.
How long does p800 refund take?
Bank Transfer: On average, between 7 to 10 working days from the time it was requested by you.
Cheque: About within 2 to 4 weeks depending on the local postal services.
If you have waited longer than this you will contact HMRC through the phone or write them an email about the refund.
What Happens If You Ignore a P800 Notice?
If you receive a P800 and ignore it, here’s what could happen:
Sometimes you would even lose money that rightfully belongs to you.
If you are in Arrears of tax, you would find that HMRC has a way of recovering through your wages or in your next tax bill.
Failure to respond to a refund notice may cause you to be cleared from updating your tax records for sometime.
It is always good to review any P800 notices issued to you in case you may find yourself locked out.
Conclusion:
The P800 refund process enables you to reclaim any tax overpaid to the government. Note that the P800 is an authentic letter from the HMRC, and it is quite simple to reclaim if done through an online process. If you believe that the refund is wrong, or require any assistance, feel free to contact the HMRC.
If you ever receive a P800, do not disregard it. The refund or any outstanding amount under the unpaid taxes was also possible.
FAQs
How long will it take for a tax refund p800?
If you choose a bank transfer, it will take about 7-10 days to have your money processed. The payments when made by cheque may take as many as 28 days.
How to credit slash or P800 refund online?
The customer must go on HMRC’s website, find the P800 notice, and get a refund according to the following guidelines.
Is a P800 refund genuine?
Yes, it is if only it originated from HMRC. Avoid cons and do not send/reveal your account numbers either through email or phone.
What should I do if I lost my P800 notice?
If you’ve misplaced your P800 notice, you can log in to your personal tax account on the HMRC website to view your tax details online. Alternatively, you can contact HMRC, and they may be able to resend the notice.
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