HMRC issues new £473 alert to one million Brits – ‘missing out’ | Personal Finance | Finance

Millions of Britons are being urged to check whether they are owed money after HM Revenue and Customs issued a fresh alert warning that around one million people may still be missing out on an average of nearly £500. In a post shared on X (formerly Twitter), HMRC said: “Could you be one of the million missing out on a tax refund?” before encouraging people to log in to their account or use the HMRC app to check whether they are owed money.

The tax authority warned that thousands of workers and pensioners across the UK may have overpaid tax without realising, leaving them eligible to claim back cash from the Government. HMRC estimates that roughly one million taxpayers are still due refunds averaging £473 each, which could be reclaimed if they take action. Refunds such as this usually arise after the tax office completes its annual checks and identifies that someone has paid too much income tax during the year.

This can happen for several reasons, including changes to a person’s job, tax code, or income. In these situations, tax may be incorrectly deducted at first, with the overpayment only discovered later when HMRC reviews the records.

The alert is often linked to P800 tax calculation letters, which HMRC sends out when its records show someone has either overpaid or underpaid tax.

If a taxpayer has paid too much, the letter explains how to claim the money back.

Britons can find out whether they are due a refund by: signing into their Government Gateway account, checking the HMRC mobile app, reviewing letters or notices sent by HMRC or by looking at their tax code on payslips or pension statements.

If a refund is due, eligible taxpayers can claim it online, with payments typically sent directly to a bank account within a few working days once processed.

HMRC rules allow people to claim back overpaid tax dating back up to four years, meaning some taxpayers could recover hundreds or even thousands of pounds if they have consistently been paying too much tax.

Meanwhile, HMRC warns people to exercise caution about scams linked to tax refunds. Fraudsters sometimes send fake emails, texts or phone calls claiming to be from the tax office and asking for banking details or fees to release a refund. Officials stress that genuine communications do not demand upfront payments or sensitive information via unsolicited messages.