UK Tax overpayment explained. Panic!

[Peterkern23]

I filled out my tax return waaay back in September.
Just being nosey I have looked at my account tonight and found that I have an overpayment due on 31st jan. what does that mean specifically, as I am 100% certain all my tax is up to date.
See image. Anyone know specifically what “overpayment” means and why it would appear at the end of jan?

 

[Lisha Shrestha]

Hi Peter,
Usually this means that you have paid more taxes than you had to. If you are employed or get a pension HMRC will either send you a tax calculation letter (P800) or a simple self assessment letter this will tell you how to get a refund.

You may also click on "Overpayment from .....2023" to get more detailed information on the transaction.

I hope this helps.

Should you require any further help please feel free to contact me on (e-mail address removed). You can also connect with me via LinkedIn at www.linkedin.com/in/lisha-shresthaacca.

Best regards,
Lisha, ACCA

 

[vijaygandhi]

The overpayment of the taxes will be adjusted against your next year's tax bill, or you can even claim it back from HMRC with interest.