ICAEW’s Tax Faculty shares information from HMRC on the delays to repayments of overpaid tax to some taxpayers under the income tax self assessment regime.
ICAEW has been made aware that some taxpayers have been experiencing significant delays in receiving repayments of overpaid tax under the income tax self assessment (ITSA) regime.
The Tax Faculty has been advised by HMRC that this was caused by increased checks carried out to tackle fraudulent claims, such as the identification verification checks referred to in the previous Tax News article: “HMRC issues self assessment repayment verification letters” (22 March 2021).
As a result of increasing resources devoted to processing repayments, HMRC expects service levels to improve by the end of November 2021, at which point, it has indicated that ITSA repayment related post will be actioned within 30 calendar days of receipt.
ICAEW asks tax agents that continue to experience delays in repayments for their clients after the end of the month to contact ICAEW’s Tax Faculty at firstname.lastname@example.org so that it can approach HMRC to query the position.
This guidance is created by the Tax Faculty, recognised internationally as a leading authority and source of expertise on taxation. The Faculty is the voice of tax for ICAEW, responsible for all submissions to the tax authorities. Join the Faculty for expert guidance and support enabling you to provide the best advice on tax to your clients or business.