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Posted Thu, 09 Jan 2025 11:13:13 GMT by Mandalina Stricevic
HMRC refunded overpaid tax that was due after my accountant submitted my tax return for 2023/24. My accountant advised that any interest due would be calculated and refunded by HMRC automatically. However, a month on and the interest hasn't been paid yet and it hasn't been added to the monies refunded. On my tax return HMRC had my bank details so there is no reason for this delay. Does anyone one know how long we need to wait for this to be paid as HMRC doesn't give any details on this on their website. In addition, for tax purposes I have incurred a loss of £5,322. My accountant have provisionally carried forward these losses to offset against future profits from the same trade. I have written to HMRC prior to 31/01/22 to carry back the loss to the 2016/17 tax year to obtain a tax refund of upto £399.15 because I didn't earn profits above the personal allowance afterwards. HMRC never responded or actioned this. Am I now too late to have this dealt with? I would prefer direct bank transfer rather than cheques for these refunds - does anyone know if this is how HMRC works? Again, I didn't find this on their website. Thank you in advance for any help.
Posted Thu, 23 Jan 2025 17:30:02 GMT by HMRC Admin 25 Response
Hi Mandalina,
Interest would not be due for 23/24 refunds until 1/2/25.
If you sent in a claim in for the carry back of losses a reply should have been issued.
If not, it would suggest your claim was not received and it is now too late for this to be reviewed.
Thank you. 

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