Tax Rebates & Refunds

How to claim for tax rebates if you have lost your job

June 30, 2010
Posted in Tax Rebates — Written by Chris

Are you no longer working or employed? If your answer is yes, then you can claim tax back for the income tax that you have already paid. You can claim tax back at the end of the financial year and receive the amount in the form of a cheque. To know how much tax refund you can get, use a rebate calculator.

If you get a new job within four weeks then you are entitled to receive a tax refund from your new employer. While claiming for this tax refund, you are required to submit form P45 – Parts 2 and 3 to your employer. It is recommended to save Part 1A for your own records.

Have you been unemployed for more than four weeks?

If you are not working for at least four weeks because of retirement or further studies then you can claim a tax rebate from HMRC. To claim a tax rebate, you have to fill in form P50 which says that you are claiming for being unemployed. After filling in the tax and employment related details, you have to send it to your local tax office. Make sure that you have sent the form P50 with an appropriate cover-letter.

Once the local tax office finds that you are eligible or entitled to receive tax rebate then you will receive a cheque by post. Along with the cheque, you will also receive a new form P45 – Parts 1A, 2 and 3. If you would prefer, then HMRC can also directly transfer it to your bank account.

You can also hire a professional tax consultant to receive your tax rebates as soon as possible.

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