HMRC tax letters issued in specific months can mean you are owed money | Personal Finance | Finance

Taxpayers who could be owed a refund from HMRC have been urged to look out for a key letter from the tax body. And the letters are normally sent between June and November.

Tax experts at accountancy firm HW Fisher have shared some tips about refunds, saying there are many reasons you be owed an amount from the taxman.

The group pointed to four reasons you could be owed cash, including:

• Being on the wrong tax code
• Changing your job
• Changes to your pension contributions
• If you are on a Government allowance, such as Jobseeker’s Allowance and Employment and Support Allowance.

Self-employed people may also be owed a tax refund. One reason could be if they have made tax payments based on an estimated income that was higher than what they actually earned.

They may also be due some tax back as they had business-related expenses that are tax deductible, that they have not claimed when calculating their tax liability.

Simon Blum, tax director at HW Fisher, urged people who think they are owed cash to look at their tax records and expenses. He said: “Check your tax records and expenses.

“You can do this by logging onto your personal tax account on the HMRC website or contacting HMRC directly.

“Claims can be made for up to four tax years, but in more complicated cases seeking professional advice from an accountant is advised.”

He also encouraged people to make sure they claim work-related expenses, such as cleaning, replacing or repairing work uniforms, petrol costs and other professional subscriptions or memberships related to your job.

Mr Blum issued a word of warning about scams, stating that HMRC would never contact you about a tax rebate via text or email. He cautioned: “HMRC-related scams are on the rise, and it is important to be vigilant.”

How will I be informed if I am owed a tax refund?

Mr Blum urged people to look out for a key letter from HMRC about tax refunds. He said: “You should receive a P800 letter from HMRC if you have paid too much tax. This will outline how much you are owed and how to claim a refund.

“However, in some cases you could also receive a Simple Assessment letter if you have underpaid your tax and need to make a payment.”

You will only get a P800 if you are not within self assessment, if you are in employment or if you receive a pension. The letters typically go out between June and November.

Self-employed taxpayers can get their tax refund from HMRC by completing their self-assessment tax return. The deadline to complete this for the current tax year is January 31 this year. After this date, you will need to make a claim directly to HMRC.

How do I claim a tax refund if I get a P800?

Mr Blum said it’s a “simple and quick process” to claim your tax refund if you get this letter advising you that you are owed cash.

You can claim the funds by logging into your Government Gateway account and completing all the steps, and the money should arrive in your account within five working days.

After logging into your online Government Gateway account and completing all the necessary steps, the money should be in your account within 5 working days. You can also claim a refund through the HMRC mobile app.