HMRC has confirmed that it will begin issuing tax calculations from June onwards, following a review of records. The government's tax department announced on social media: "We'll be automatically reviewing records for the last tax year shortly and we'll let you know if you've overpaid or underpaid tax from June onwards. Search P800 on our GOV.UK website for more details."
The letters, known as P800s, will inform taxpayers whether they owe extra tax or are due a refund. HMRC stated: "We'll begin issuing tax calculations from June onwards, so if you owe tax or are due a refund, you can expect to receive one between then and March next year."
How to Claim a Refund
If you are due a refund, the P800 letter will explain how to claim it. You can use the online bank transfer service or request a cheque online. You will need the reference number from your P800 letter and your National Insurance number. Alternatively, you can claim through your personal tax account or the HMRC app if you have a UK bank account, or by contacting HMRC directly.
If you claim online, the money will be sent within 5 working days. If you request a cheque, it will arrive within 6 weeks. In some cases, HMRC will automatically send a cheque without you needing to contact them. You will receive the cheque within 14 days of the date on your letter. If you are owed tax from more than one year, you will receive a single cheque for the total amount.
What If You Owe Tax?
If you have underpaid tax, HMRC will increase the tax deducted from your wages, salary, or pension. This usually happens in equal instalments over 12 months from the start of the following tax year. This process occurs automatically if you pay Income Tax through an employer or pension provider and earn enough above your Personal Allowance to cover the underpayment. It also applies if you owe less than £3,000.
For more information, search P800 on the GOV.UK website.
