Almost One Million People Owed Refund from HMRC – How to Check if You’re Due Money Back
Nearly one million taxpayers in the UK are yet to claim refunds they are owed by Her Majesty’s Revenue and Customs (HMRC) for overpaid income tax, a recent report reveals. If you have paid too much income tax during the last tax year, you could be entitled to a significant rebate. Here’s how you can check whether you are due to receive money back, and how to easily claim what’s rightfully yours.
Why Might You Be Due a Tax Refund?
Each tax year, HMRC reviews individuals’ tax payments to calculate whether the correct amount has been paid. Common scenarios leading to overpayment and refunds include:
- An incorrect tax code being applied by your employer or HMRC.
- Having more than one employer in a single month.
- Stopping work partway through the tax year.
- Paying excess tax on a pension lump sum, particularly relevant for pensioners.
In many cases, HMRC will automatically issue a refund. But nearly a million people have not yet claimed money owed to them, either because they weren’t aware or haven’t gone through the process.
How to Check If You’ve Overpaid Tax
The simplest way to start is by reviewing your tax payments for the last year. You will need the following information to access your details online:
- Your National Insurance number.
- Your Government Gateway User ID.
- A method to verify your identity, such as the GOV.UK ID Check app.
Once logged into the HMRC system, you can use the government’s tax checker tool to compare the tax you paid against what you owed. This process helps identify if you have an overpayment and a possible refund waiting.
Steps to Claim Your Refund
If you are employed or a pensioner:
- HMRC generally sends letters from June through November explaining how much you are owed.
- You can claim your refund online or via the HMRC app, using your Government Gateway ID to log in.
- Once logged in, navigate to the PAYE section, update any missing information, and if applicable, click the button to ‘claim your refund’.
- The money will typically be paid directly into your bank account within five working days.
- Importantly, you do not need a letter from HMRC to make a claim; the online process is accessible to all eligible individuals.
If you are self-employed or have additional income:
- You will need to submit a self-assessment tax return.
- This can also be done via the HMRC app by selecting the self-assessment section after logging in.
- Provide the necessary evidence of your income and expenses to calculate your final tax liability and any refund due.
Additional Financial News Highlights
The money blog by Sky News also reports on other consumer finance issues making headlines. Notably, supermarkets Morrisons, Asda, and Co-op have suffered losses in market share. In the insurance sector, the Financial Conduct Authority (FCA) has warned companies against “double dipping” — unfairly increasing premiums for customers who pay insurance in instalments, which is exacerbating monthly insurance costs for many consumers.
Meanwhile, a Which? survey highlights that although private medical insurance uptake is at a record high, less than half of customers feel their plans offer good value. Rising premiums and complicated policy terms have left many consumers questioning the benefits of private health coverage.
Stay Informed with the Money Blog
The Sky News Money blog provides up-to-date personal finance advice and news to help people manage money smarter. Subscribers to their free weekly newsletter receive exclusive money-saving tips, expert guides, and early notices on significant financial updates. Whether you want to check your potential HMRC refund, understand mortgage deals, or explore savings strategies, the Money blog aims to empower you with reliable, practical information.
To check your tax payments or claim a refund, visit the official HMRC website and log in using your credentials. Don’t let owed money go unclaimed—take the few minutes needed to secure your refund today.