HM Revenue and Customs (HMRC) has issued an urgent alert to more than one million taxpayers across the UK, warning they may be eligible for refunds of £100 or more – but time is running out to claim.
Who Is Affected?
The tax authority has identified individuals who may have overpaid through Pay As You Earn (PAYE) or self-assessment. Many are unaware they're owed money, with some refunds dating back four years.
How to Check Your Eligibility
Taxpayers can verify potential refunds by:
- Reviewing their Personal Tax Account
- Checking recent correspondence from HMRC
- Contacting HMRC directly if they suspect an overpayment
Claiming Your Refund
The process varies depending on your employment status:
For PAYE Employees
Most refunds can be claimed online through your Personal Tax Account within minutes. HMRC typically processes these within two weeks.
For Self-Assessment Filers
You'll need to amend your tax return if you discover an error. The deadline for 2019-20 claims is approaching fast – January 31, 2025.
Why Are Refunds Going Unclaimed?
Common reasons for unclaimed refunds include:
- Changes in employment during the tax year
- Incorrect tax codes
- Not claiming work-related expenses
- Overlap between PAYE and self-assessment
HMRC urges all taxpayers to check their records, particularly those who have changed jobs, had multiple employers, or worked part of a tax year.
