Have you ever received an uncashed HMRC tax rebate cheque?

Latest reviews have introduced that over half 1,000,000 people annually are failing to reclaim a whole lot of kilos in overpaid revenue tax.

Final 12 months alone over 5 million HMRC tax rebate cheques have been despatched out however as of the start of November 2023, 615,383 cheques – with a complete worth of £217million remaining uncashed.

On common this provides as much as round £350 per individual with some probably lacking out on hundreds of kilos.

Within the tax 12 months of 2021 to 2022, a complete of 593,367 cheques (out of 4.3 million despatched) have been issued with a price of £187 million that haven’t been cashed but.

Equally for the tax 12 months 2020 to 2021 there are 640,245 (out of three.7million despatched) cheques price a mixed whole of £215 million that stay uncashed.

P800 tax calculation

Yearly tax 12 months HMRC sends out  by put up a P800 tax calculation to people who’ve overpaid revenue tax.

For those who obtain a “P800” notification letter from HM Income & Customs (HMRC), informing you a couple of tax rebate it is best to firstly learn it fastidiously to test it for accuracy after which secondly assessment the half about requesting your refund through a financial institution switch.

Generally HMRC will verify in your P800 {that a} cheque is being despatched individually wherein case you don’t must take any additional motion aside from look ahead to the cheque to reach.

For those who don’t observe the method to request a refund through BACS inside 21 days HMRC will usually subject a cheque to the deal with they’ve on file for you.

Tips on how to test and declare your tax rebate on-line

If you’ll want to double test in case you are owed a tax rebate from a previous tax 12 months you’ll be able to login to your private tax account or the downloadable (through a smartphone) HMRC app.

When checking on-line it is best to have the ability to see any tax rebates that HMRC have calculated and despatched to you through put up for earlier tax years.

It will allow you to discover out for those who’ve not obtained a cheque or remind you that you just’ve not banked one you’ve already had and forgotten about.

Both method it means you’ll be able to request a brand new cheque or organize with HMRC for a financial institution switch as a substitute.

I’ve misplaced my HMRC cheque what ought to I do?

For those who fail to money your cheque for no matter motive HMRC states that it may be changed in your request.

To request the reissue of a tax rebate cheque you’ll be able to attain out to HMRC’s taxes phoneline on 0300 200 3300.

You’ve got an preliminary six months to money a cheque earlier than it expires at which level it’s a must to ask HMRC for brand spanking new cheque to be despatched.

There aren’t any official deadlines for requesting a brand new tax rebate cheque nevertheless it’s advisable to request a brand new one as quickly as potential.

At all times bear in mind your banking app

Most private checking account apps allow you to scan a cheque through your telephone so that you don’t have to go to a department which is changing into more and more tougher nowadays with so many branches closing.

For those who obtain an HMRC tax refund cheque and you’ve got a banking app that allows you to scan a cheque in then it is a fast and simple technique to financial institution your overpaid tax cash.

Replace your deal with with HMRC

If HMRC doesn’t have your present deal with you’re unlikely to obtain any tax associated correspondence from HMRC which features a P800 tax calculation and a posted HMRC tax rebate cheque.

To keep away from this taking place you’ll be able to simply replace your private deal with on-line in your private tax account, HMRC app or the HMRC change of deal with type on-line.