What is P800 refund?
By Mia Russell
A P800 tax calculation is the form HMRC uses to tell you you’ve paid the wrong amount of tax. If you haven’t paid all the tax you owe, HMRC will take action to get it from you. If you’ve overpaid, you can get a tax rebate.
What if my P800 is wrong?
You need to contact HMRC if: you think your P800 calculation is wrong – you must let HMRC know if you think they have repaid you too much; you need to claim extra tax reliefs or allowances; you need to ask for a full explanation if you do not understand the calculation.
What is notify P800?
Your P800 or Simple Assessment will tell you how to get a refund or pay tax you owe. You will not get a P800 or Simple Assessment if you’re registered for Self Assessment. Your bill will be adjusted automatically if you’ve underpaid or overpaid tax.
What to do if you get a P800 refund?
If you receive a P800 calculation, it is important to check the income and tax figures carefully against any P60, P45 and P11D certificates you have for the year – the calculations are only as good as the information held by HMRC, which is by no means perfect! Remember, HMRC state that it is your responsibility to spot any errors!
What happens if you get a P800 calculation letter?
Paid too little tax, the underpayment will in most cases be automatically collected through your 2014-15 annual tax code over 12 months. Where this is not possible, HMRC will write to you and let you know what options are available to pay the tax outstanding. Millions of P800 calculations will be sent out!
When do HMRC send out the P800 letters?
HMRC’s end of year reconciliation process for PAYE taxpayers started on 10th June 2016 and is expected to result in six million letters being issued to individuals who have not paid the right amount of tax. The letters, officially called P800 Tax Calculations, will go out between August and October.
