just checked my bank on line and tax credits have finally calculated my award and paid me my question is tho how come its gone in on a saturday cause it wasnt there yesterday not that i am complaining like cause now i can go a do a big food shop
2007-02-09 18:27:33 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Transferring money only requires the flick of a switch especially if you are the government.
2007-02-09 18:34:46 · answer #1 · answered by Anonymous · 0⤊ 0⤋
HMRC will give you a payment date for your payments, this will be shown on your award notice or the helpline can tell you. You can be chosen to be paid weekly or 4 weekly. This date is the DUE date for payments, HMRC must have funds in your bank account by this date. Some weeks it may be paid early, especially around bank holidays, however will always be in your account by the due date. In your case I think your due date is a Monday and as your bank knows the payment is clearing on Monday, they have released the funds to yourself on the Saturday. HMRC sends payments at least 48 working hours notice to your chosen bank. Hope this helps.
2007-02-11 15:07:01 · answer #2 · answered by hotguy18 2 · 0⤊ 0⤋
Tax Credits issuse payments to bank accounts 2-3 working days in advance from what you are saying your payments are due on mondays so most likely the payment was issused on thursday, but I may take until saturday for it to appear as credit in your account due to the holding of the cash by the issusing (HMRC bank) and the credit being in cyber space.
2007-02-11 13:07:50 · answer #3 · answered by Lora 2 · 0⤊ 0⤋
If your usual payment day is a Monday then sometimes they appear in your account on a Saturday. Its just the way the banks process the payment and your bank must be good enough to credit you it early
2007-02-10 13:02:37 · answer #4 · answered by S J 1 · 0⤊ 0⤋
There is usually a day or two delay on bank transfers. It was probably actioned a few days ago but only reached your bank today.
I receive a benefit which is due every fourth Friday, but it doesn't reach the bank till Monday.
2007-02-10 03:16:02 · answer #5 · answered by leekier 4 · 0⤊ 0⤋
Not sure, a BACS credit transfer takes two days, if released on Thursday it would go in a Monday, I think this is more to do with your bank than HMRC
2007-02-11 06:05:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I expect it's done by computer and nobody told it it could have saturdays off.
2007-02-10 13:03:26 · answer #7 · answered by gerrifriend 6 · 0⤊ 0⤋