IS A REPAYMENT SUPPLEMENT DUE FOLLOWING DELAYED REFUND OF OVER-PAID TAX?

Hello, I filed my Self Assessment for 2023-24 on 13th June 2024 I received the Tax Calculation (SA 302) on 15th June 2024, confirming that a refund was due HMRC informed me on three follow-up calls that the refund was delayed due to "security checks" I finally received the refund on 11th November 2024 (30 weeks after SA302 was issued). I have three questions... 1. Is a Repayment Supplement (interest) due to me on the delayed refund of over-paid tax? 2. If so, from when is this calculated, 5th April 2024, or 15th June 2024? 3. If a Repayment Supplement is due, how should I claim from HMRC? Thanks in advance for your response.

Hi, As the repayment is for the 2023/24 tax year and repaid in November 2024 then no repayment supplement will be due. If repayment supplement is due this will be calculated and added to the repayment when processed and issued. 
Thank you.

Dear Admin 18, So, if I have understood correctly, the Repayment Supplement is only payable on amounts outstanding from Jan 30th of the year after the return. In extremis, this means a return assessed on April 6th with a tax repayment due, would not benefit from a Repayment Supplement unless the repayment was made more than 297 days later. Seems a bit unfair as the tax payer is missing out on the opportunity to invest the money and has no incentive to file early... That said, I can also see the logic of setting a settlement date with HMRC that is consistent for both debtors and creditors. Please can you confirm that my understanding is correct.

Hi ,
 

Yes repayment supplement not due until after 31 January following the tax year the repayment is for.  Thank you .