Direct bank transfer from HMRC is usually the fastest way to receive your tax refund. While most business owners and individuals do look out for ways to file their tax returns in time, they are clearly not sure about when they will receive their tax refund through direct deposit. If you have filed income tax return online, the HMRC will either transfer the tax refund to your bank account or to the account of the nominee or provide you with a cheque. This usually takes around five weeks, but in some cases, it can take longer as well.
If you have your filed income tax return online, it is recommended that you wait for at least five weeks and if you have made a postal claim you should wait for approximately six weeks before you contact the HMRC and ask about the tax repayments. You can directly contact the HMRC and ask about the status of your tax refund, or you can approach your bank and see if they have received any payments in your account. If you want to the tax refund repayments quickly it is recommended that you choose direct deposit that can allow the HMRC to quickly make the transfer and shorten the overall process.
It is also recommended that you fill up the information of your bank correctly while filling up the tax return because that can delay the tax refund process. You may also want to check with the HMRC if you’re due for a refund or not and they can provide you the further details.
Want help today? In the event of tax, always call Tax Twerk.
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