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Scottish Trust Deed Forum
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Topic starter
15/04/2021 11:41 am
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
15/04/2021 12:22 pm
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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Topic starter
15/04/2021 1:07 pm
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
15/04/2021 1:44 pm
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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Topic starter
15/04/2021 6:10 pm
thanks. thought trustee would question £11 tax refund. i claimed working from home before lockdown. thanks
16/04/2021 12:06 pm
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.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
