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triker
New Member

3 Posts

Posted - 15 April 2021 :  11:41:40  Show Profile  Reply with Quote
hi

just a quick question, I am due to make a last payment and HMRC have sent a letter saying I have paid 11 too much tax and are sending a cheque to my trustee, will this be an issue ? and do HMRC automatically get told when you enter a trust deed ?

thanks

TDA (Debt Adviser)
Trust Deed Expert



13754 Posts

Posted - 15 April 2021 :  12:22:44  Show Profile  Reply with Quote
Welcome to the trust deed forum triker.

I don't think that this will be any issue in terms of the completion and subsequent closure of your trust deed.

I'd imagine HMRC run a quick insolvency check before distributing refunds, just in case someone is currently subject to a personal insolvency process.

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triker
New Member

3 Posts

Posted - 15 April 2021 :  13:07:01  Show Profile  Reply with Quote
thanks for your reply, appreciate that, so I take it a personal Insolvency is different to a trust Deed, as I said I have still one payment to make, so technically I am still in the process

thanks
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Kevin Mapstone
Trust Deed Expert



3995 Posts

Posted - 15 April 2021 :  13:44:13  Show Profile  Reply with Quote
Hi triker. No, a Protected Trust Deed is a type of personal insolvency - which is why HMRC are sending the overpaid tax to your trustee rather than to you.

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triker
New Member

3 Posts

Posted - 15 April 2021 :  18:10:23  Show Profile  Reply with Quote
thanks. thought trustee would question 11 tax refund. i claimed working from home before lockdown. thanks
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TDA (Debt Adviser)
Trust Deed Expert



13754 Posts

Posted - 16 April 2021 :  12:06:54  Show Profile  Reply with Quote
Hi triker,

I don't think there's any reason for your trustee to question this or for it to cause a concern.

You've done the right thing by claiming this allowance if you're entitled to it.

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