A miscalculation by Revenue?

[sinbadsailor]

Hi.

I have just received a balancing statement from revenue. I think they have miscalculated but want check a few things.

Statement says that I was owed a certain sum, say 1500 for argument sake.
I had lodged a MED1 earlier in the year and had recived a refund for that, say 750 for example.

Now on my statement, it reads that the Med1 refund INCREASES my tax liability for the year so I only get tax credit refund of remaining 750?

I called the revenue and was told that I cannot get refunded for the med 1 twice?

My question is they are two seperate refunds, one for a med1 and one for tax credits arising from a preferential rate mortage I was not getting.

Is this correct, why does the med1 refund reduce the refund of an unrelated tax credit refund?

 

[papervalue]

Hi.

I have just received a balancing statement from revenue. I think they have miscalculated but want check a few things.

Statement says that I was owed a certain sum, say 1500 for argument sake.
I had lodged a MED1 earlier in the year and had recived a refund for that, say 750 for example.

Now on my statement, it reads that the Med1 refund INCREASES my tax liability for the year so I only get tax credit refund of remaining 750?

I called the revenue and was told that I cannot get refunded for the med 1 twice?

My question is they are two seperate refunds, one for a med1 and one for tax credits arising from a preferential rate mortage I was not getting.

Is this correct, why does the med1 refund reduce the refund of an unrelated tax credit refund?

I think the Revenue are right. The earlier refund was bascially a payment on account to you. If you did not make earlier claim you would get back the 1500 now.( if you did computation on a piece of paper it would come out with 1500 repayable, they check the computer to see have you received any of the 1500 already, you recieved 750 so they now give you remaining 750)

The aim of balancing sttement is to count all income and credits deductions for a tax year, clean up operation for a tax year

I cant comment on mortgage as i not sure of query.

 

[sinbadsailor]

The issue i have with it is, that the med1 return is voluntary one, and something the revenue will not credit you for unless you lodge a return.

I think the 1500 example figure was the total credit refund I was due over the mortgage return I lodged (which I might add took me soo long to find someone in the revenue who even understood the issue! Everyone kept assuming it was TRS related).

So my question is why if I was due example 1500 back on mortgage credit claim, did I get that amount reduced because I was refunded a med1 which has nothing to do with the.

It was indicated to me that if I had not have lodged the med1 I would have got the 1500 mortgage refund OK?