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Posted Mon, 05 Aug 2024 15:57:31 GMT by Paul Williams
I was made redundant in early April and took the £30k tax free redundancy plus another £10k with the remainder into my pension. I was taxed around £3k on the £10k but completed a form P50 to claim it back. HMRC tell me they cannot repay the tax until they have all my savings interest info for last tax year. How long do the financial institutions have to submit this info? When do HMRC work out my correct tax position if the institutions are slow in sending the info. I've tried to add it myself but the online form only states interest for this tax year or next so nowhere I can add the info for the four accounts they tell me are outstanding. Any guidance on where I go next or what I can expect from HMRC as far as a timeline?
Posted Tue, 06 Aug 2024 13:32:36 GMT by HMRC Admin 18 Response
Hi,

You can contact HMRC directly to provide the information for the last tax year, if you have the information. See link below:

Income Tax: general enquiries

Thank you.
Posted Tue, 06 Aug 2024 22:04:16 GMT by Paul Williams
Can you clarify when you would expect the financial institutions to have sent this information and what is HMRC's timeline for processing a refund should I not be able to provide myself?
Posted Mon, 19 Aug 2024 10:48:30 GMT by HMRC Admin 8 Response
Hi,
The majority of this work is completed by HMRC before the end of September if not earlier, in certain circumstances we may need further information which may delay this.
You can check on your personal tax account if this is now held:
Personal tax account: sign in or set up
Thank you

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