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30 Days from payment
Scenario - client's SA return shows £1000 due 2011/12. Coded out 2013/14 by HMRC. Unfortunately client also pays the tax direct to HMRC in mid January 2013. HMRC web site shows tax available for refund. After discussion with client we phone HMRC and say client likes idea of coding out and can he have refund please? HMRC says yes but client will have to wait 30 days for his payment to clear! (Even the most inefficient banks can do it in 5). Contact Centre could not explain why? Can the Revenue? I doubt they'll bother because Working Together is a joke.
Try getting
a refund for a Limited Company when the P35 doesn't tie up with the figures Longbenton hold.
2007/08 still outstanding after sending all statements etc.
The whole thing is getting worse and will eventually cllapse. I wonder how many of the disgruntled Civil Servants come from HMRC?
Longbenton
Are they strictly on topic here? In any case they deserve special recognition for some of the longest delays (I've) ever experienced in repaying company CIS tax.
You hear nothing from them and then find out that a correct 19 May 2012 P35 claim now has to be backed up with a written claim. Then possibly statements of deduction. Its now January 2013. You'd think they would be embarrassed some 8 months later into paying up but no.
Factual Contractor information gathered that proves your company subcontractor has suffered tax deductions at source is not enough. They want to audit the company bank statements too. No minimum payment up front either to the company's account for the tax they know is due but are seemingly playing 'poker' with. Sometimes the solution here is simply to 'walk away' and offset the Ctax due by the company against this CIS withheld. Let HMRCs internal machinations wrangle out a problem, more often than not, of their own making. CIS Longbenton and the company Ctax District can sort it all out for themselves then you would think? Not always sometimes you are left with the impression they want you to go down the tax office and put in a shift there to fix it at their end too. Company CIS is like a tax version of the 'hot potato'. HMRC staff seem to fear making repayments for some reason and are indirectly punishing innocent companies cash-flow; and; pushing administration costs of this tax into the uneconomic in general practice terms. Not right or fair.
So what's the story?
And
when they do set off, they charge more interest on outstanding CT tax than they give for outstanding CIS. We are nearing another April so more problems.
CIS repayments
Like johnjenkins I am still trying to get 2007/2008 sorted out for a limited company client.
I too have tried the AAM route but that is not proving fruitful either.
Incidentally when I raised the point with the AAM that 2005/2006 & 2006/2007 were still not reconciled I was told that HMRC no longer have the records and it is too late.
Only when 2007/2008 is sorted do I have some confidence in moving forward to then try and agree 2008/2009, 2009/2010, 2010/2011 & 2011/2012
I also agree with the comments made by Albasas. HMRC appear to be playing "poker",ruining the cash flow for genuine taxpaying companies and pushing up their administrative costs to grossly uneconomic figures.
delayed tax refund
According to IRS tax refund this year will be delayed again. You will not be able to get your tax refund as easily as you might have expected. Fortunately, you still have access to payday loans to cover things while waiting on your tax return. It will be about a month before those returns can be processed, and then there is a waiting time period after that to get the money.