I run the payroll for a director client who made a large salary payment in May and June of the 2023-24 tax year. They wish to take a small salary in December 2023. This will generate a substantial tax refund (due to unused personal allowances and basic rate bands in previous tax months), which I wish to apply for to be refunded by HMRC via Tax Refund Funding.
The HMRC website states that an agent can apply for tax refund funding by means of their structured e-mail, which I have used before on many occasions where a client has paid too much tax in a previous job, or where there has been an in-year tax code change.
However, I am not sure which box to tick in this case, as neither "If the code shown on a new employee's form P45 is the reason a tax refund is due please enter the date of commencement below." nor "If a new coding notice is the reason a tax refund is due, enter the date a new coding notice was issued by HMRC below." are appropriate.
Any suggestions would be much appreciated! The client would prefer to not have to wait until their 2023-24 self assessment to receive the tax refund from HMRC.