Agent Update 42
The latest bi-monthly round up of the latest developments in tax, HMRC service and consultations for accountants and tax professionals and a section on the latest news and issues from the Working Together network has been published by HMRC. HMRC have also published the July 2014 Pensions Newsletter.
The latest Agent update contains a news item confirming that HMRC has updated the automatic online notification generated when an agent or client successfully submits an online request for a self-assessment (SA) repayment.
The message now explains that the repayment request has been received but adds that the repayment will not be processed immediately. HMRC says that the aim is to issue all SA online repayments within two weeks but some may take longer due to security checks.
HMRC has asked that any repayment claims are not chased up unless they are still outstanding after four weeks. HMRC would prefer that Agents use its Where’s my reply tool, which has been expanded to include queries on SA tax returns for the following areas:
- SA refunds – including requests made from an online account;
- Amending an SA return;
- Appeals against a penalty;
- Processing an SA paper return