Tax Rebates & Refunds

Claiming tax rebates the smart way

June 23, 2010
Posted in Tax Rebates — Written by Jennifer

If your taxes are directly deducted from your salary by the government then you can see a tax code on your pay slips. These codes are given by the government agencies which decide the amount of money (salary) you will earn in that year. Particularly when you first start a job, you may notice that you are paying emergency tax but if you do end up paying too much, you are entitled to receive it back.

When can you receive tax rebates?

In some situations, when you claim for taxable benefits and fill in form P45, you will receive a tax refund automatically. The government bodies check the information which is mentioned in the Part 2 and 3 of the P45 form. Even if you change your job and hand over form P45 to your new employer then a tax refund will take place automatically through PAYE system.

If you do not receive tax rebates automatically then you can claim for the money whenever you want. One of the best things about the tax rebate scheme is that it is possible to claim for a tax refund going back over the last six financial years. To receive tax rebates for more than one year, you have to file all the tax-related documents with your application.

Documents required for the tax refund process

If you have changed jobs in the past six years then you are required to submit your original P45 for each job. You will receive form P45 if you leave the job before the end of the financial year. Attach form P60 which is received at the end of the tax year and submit both the forms when applying for tax rebates for more than one year.

As the whole income tax refund procedure is complicated, it is advisable to hire someone to help you complete the process correctly.

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