I am writing this post in the hope of obtaining some much-needed assistance. I received a message from the HMRC on July 4, 2023, notifying me about a refund for my Self Assessment. However, it's now July 8 and the refund still hasn't arrived in my bank account.
My primary concern is the uncertainty regarding the expected timeframe for such transactions. Are refunds usually processed within 24 hours, or do they take a longer time? Additionally, I am unable to find any information in the HMRC app or website to confirm whether the correct bank account details were used for the refund transaction.
I am beginning to worry that the refund might have been credited to the wrong account, as my accountant had initially provided my bank details over the phone.
The message I received reads as follows:
"We've sent you a Self Assessment refund of £(redacted).
This message was sent to you on 04 July 2023.
We've refunded this amount to you because your customer account shows you've paid too much tax. You'll receive this refund shortly.
We may check your tax return at a later date to make sure the amount we refunded is correct. If we find that we've refunded too much, we'll tell you about this on your customer account.
You can find more details about this refund in the repayments section of your account.
If you have someone who helps you with your tax affairs, you may want to talk to them about this."