There are several reasons why you might be entitled to a tax refund or tax rebate from Her Majesty’s Revenue and Customs (HMRC). If you’re employed and pay tax through PAYE, this may have been miscalculated. Also, your self-assessment tax return may have contained errors, resulting in an overpayment of tax. If this is the case, and you are owed a payback by HMRC, and you are probably asking, how long do I need to wait for tax return?
How long do I need to wait for tax return? Processing timeframes for tax refunds
The answer to how long it takes to get a tax refund in the UK is rather challenging to pinpoint. Why is this the case? Because the significant delay between applying for and receiving your tax refund is determined by HMRC’s current processing times. In most circumstances, they will provide a tax rebate within 8–12 weeks of receiving your application, though this can vary. If you want to check your tax refund correctly, you can assign this task to Taxback. We’re a UK tax accounting firm based in Gloucester Road, West London and one of the UK’s oldest and most comprehensive tax refund companies.
How to get a quick tax rebate?
Although this is in the hands of HMRC, there are a few things you may do to expedite the processing of your HMRC payback. Ensure that you have obtained all of the necessary information and papers. This is vital so that HMRC doesn’t have to contact you again to get all of their required information. Also, avoid submitting your tax rebate application during HMRC’s busiest times. For example, the self-assessment date is January 31st, while the tax credit renewal deadline is July 31st. Also, consider that lesser payments, such as those under £1,000, are usually handled quickly. On the other hand, larger amounts may necessitate more verification stages, resulting in a longer delay.
How long does it take to receive a tax rebate?
Once your tax refund has been authorised, the length of time it takes for your HMRC repayment to be issued is normally relatively short. However, exactly how long your tax rebate takes depends on the following criteria.
- If you’re paid directly into your bank account, credit or debit card, you should receive it within five working days.
- If you’re anticipating a cheque or a “payable order,” you should get it within five weeks.
- If you received a P800 notification informing you that you are due a tax refund and that you may claim it online, the money will be deposited immediately. In this case, HMRC will deposit the funds into your bank account within 5 working days of filing the claim. However, if you don’t claim online within 45 days, you’ll receive a cheque within 60 days of the P800’s date.
- If you received a P800 notification informing you that you’d receive a cheque, it would come within 14 days of the notice’s date.
You can engage a tax advisor
If you believe you’re owed a tax rebate, especially if your claim is relatively complex, we’d recommend engaging the services of Taxback. We’re a specialist tax advisor who can provide you with tax return help. At Taxback, we assist you in compiling your tax rebate request. It’s prudent to be aware that your tax return in the UK will be significantly expedited if your claim is fully completed. It’s therefore easier for HMRC to process.
How to do tax refund online?
If you’ve never previously filed a tax return, you must create a HMRC online account. According to HMRC, many people submit tax forms online since it’s simple, secure, and available 24 hours a day. You can easily sign up for email notifications and online messaging to help you manage your tax affairs. After you sign up, HMRC will send you an activation number, which may take up to ten working days to arrive. You’ll also be assigned a user ID and a Unique Taxpayer Reference (UTR). To learn more about online tax returns in the UK why not speak to Taxback. We’re specialising in Non Residents tax refunds, UK tax refunds and self-assessment tax returns for anyone paying UK tax.
Do you get an emergency tax back in the UK?
Yes, you can claim back emergency tax back. Because of this, your tax code has changed during the fiscal year. In addition, any tax you have overpaid is usually refunded to you in the same tax year. If you possessed an emergency tax code in the past and were not repaid, you should file a tax rebate claim. Because your correct tax code is unavailable, your employer will use an emergency tax code. It’s simply designed to be a stopgap fix until the HMRC delivers you and your employer the correct tax code. Also, keep in mind that you can find your tax code on your payslip.
If you recently filed a self-assessment tax return and received a refund, they should issue it once the tax return has been completed. A tax return submitted online takes less time to process than a paper tax return. HMRC’s website currently displays a two-week wait time for a refund from an online tax return. A paper tax return usually results in a four-week wait for a refund. You should be aware that HMRC will not pay into foreign bank accounts. When your claim begins, we at Taxback will be able to give you an estimate of how long it will take to receive your tax refund. Because of our close collaboration with HMRC, we receive monthly updates on their current workload, methods, and timeframes. In general, this applies to several types of inquiries.