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[Andy B]

Earlier this year HJ Heinz changed its name slightly (due to Warren Buffet effectively buying us out), but it was enough for HMRC to think that we'd all changed employers and our wonderful Pay Office it would seem was oblivious to any information that they might have told them. So, the other day, a letter from HMRC landed on  the doormat to tell me that I was entitled to a rebate  however ...... earlier in the year when my P60 arrived, I'd noticed that the figure in the red box ie the amount they said I would use if completing a tax return was way less than my total for the year. So I phoned the HMRC to ask if an error might have been made. He looked at various figures & agreed that an error had been made & that their estimate for my tax rebate was wrong.

Today a sizeable cheque arrived.

So, knowing you'd already phoned the tax office & kinda know it's a mistake, would you ..............
bank the cheque & wait for them to ask for the money back ...... it'd pay my car insurance next month very nicely 
or put the cheque to one side

[Stuart30]

If you have a separate account (saving etc) id bank it and wait for them to ask for it back,might get a small amount of intrest.

How sizeable...ive just recently had my rebate and that was £1349...only worked 8 months last year.

[amba]

Send it back recoreded delivery with a personal cheque from your goodself to cover the interest they have lost whilst the error was corrected as they have been denied the money for all of 5 days 

[Andy B]

If you have a separate account (saving etc) id bank it and wait for them to ask for it back,might get a small amount of intrest.

I have a Santander 1 2 3 acc so it'd be put in there.

How sizeable...ive just recently had my rebate and that was £1349...only worked 8 months last year.

Not quite as much as you  almost £1200 

[Andy B]

Send it back recoreded delivery with a personal cheque from your goodself to cover the interest they have lost whilst the error was corrected as they have been denied the money for all of 5 days 

What a good idea! 

[Stuart30]

If you have a separate account (saving etc) id bank it and wait for them to ask for it back,might get a small amount of intrest.

I have a Santander 1 2 3 acc so it'd be put in there.

How sizeable...ive just recently had my rebate and that was £1349...only worked 8 months last year.

Not quite as much as you  almost £1200 

Id say keep it until such time they ask for it back....which could be several years.

Or they just might accuse you of being a scrounging cheat,as we have just been from the Child tax credit people...reckon they over paid us by 2.5k in 2008...hmm id like to know quite how when we only had about £1800 for that period.. (Apparently they don't have to disclose the facts,im told legally I have to go on there say so... ).

Just don't do as we did when Norwich union paid about £15,000 into an account of the wifes over a 18 month period (statement didn't show who was paying it in).....spent it....

[Andy B]

...

Just don't do as we did when Norwich union paid about £15,000 into an account of the wifes over a 18 month period (statement didn't show who was paying it in).....spent it....

A nice little bonus 

[Broomies Mate]

Bank the cheque.  If the error is noticed (it will be) you will legally have to repay the money.

That £1,200 is better off in your bank than theirs!

Bank the cheque and forget the money is there!

[Andy B]

Bank the cheque.  If the error is noticed (it will be) you will legally have to repay the money.

That £1,200 is better off in your bank than theirs!

Bank the cheque and forget the money is there!

That's settled then ................ I'll link HMRC to this thread if he asks   

[Stuart30]

Bank the cheque.  If the error is noticed (it will be) you will legally have to repay the money.

That £1,200 is better off in your bank than theirs!

Bank the cheque and forget the money is there!

No he doesn't...not if he goes bankrupt...ok ok bit extreme I know...

[Andy B]

Bank the cheque.  If the error is noticed (it will be) you will legally have to repay the money.

That £1,200 is better off in your bank than theirs!

Bank the cheque and forget the money is there!

No he doesn't...not if he goes bankrupt...ok ok bit extreme I know...

Oh god! I hope not! 

[Broomies Mate]

   What I meant by 'Forget the money is there' is;

Leave it in your account, untouched.  Admittedly, it will make bugger all interest, but the Government have already accounted for that money to be gone...... they don't even realise it's in their coffers.

When they want it back, repay them - @ say £10 a month. 

[Andy B]

  What I meant by 'Forget the money is there' is;

Leave it in your account, untouched.  Admittedly, it will make bugger all interest, but the Government have already accounted for that money to be gone...... they don't even realise it's in their coffers.

When they want it back, repay them - @ say £10 a month. 

I gotcha  Phoning HMRC on Thursday might have been a slip up 

[Vamps]

  What I meant by 'Forget the money is there' is;

Leave it in your account, untouched.  Admittedly, it will make bugger all interest, but the Government have already accounted for that money to be gone...... they don't even realise it's in their coffers.

When they want it back, repay them - @ say £10 a month. 

Sounds good to me......

[Stuart30]

  What I meant by 'Forget the money is there' is;

Leave it in your account, untouched.  Admittedly, it will make bugger all interest, but the Government have already accounted for that money to be gone...... they don't even realise it's in their coffers.

When they want it back, repay them - @ say £10 a month. 

I gotcha  Phoning HMRC on Thursday might have been a slip up 

Sadly you don't get a choice about how much you "want" to repay...they go through an income and expenditure and then ignore that and demand X amount per month.