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Tuesday
Apr062010

HMRC Backlogs In Processing Income Tax Return Rebates

I can certainly understand the frustrations on new computer systems being introduced but glitches that mean people don’t receive their rebates for, in some cases, up to a year later occurring at HMRC. HMRC introduced a new computer system not too long ago that was meant to speed up the processing of tax returns and calculating tax rebates.

On the whole, it has worked reasonably well but there have been some issues in some people not receiving their rebates within a reasonable amount of time. I’ve heard it mentioned that some people have been waiting for over a year for their rebates. Some rebates are as small as £116 but others (corporation tax most likely) are waiting for rebates of in excess of £100,000.

There has been some negative press lately insinuating that HMRC are holding onto the cash due to the financial situation of the economy. How much you want to believe of this, I leave up to you. Whether or not a computer glitch is to blame, there is a problem that needs sorting urgently. Tax rebates can often be welcome boosts to cash flow for both individuals and companies.

Are you one of the small number of people affected by the backlog in processing rebates? If it’s been a while and either your personal or company’s financial success is hinging on the rebate, talk to one of our advisors who can suggest ways of meeting cash shortfalls in the interim period and may be able to assist you in contacting HMRC for an update on your personal or company tax rebate.

 



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