Tax Rebates & Refunds

A guide to tax refunds in the UK

September 1, 2010
Posted in Tax Rebates — Written by Geoffrey

Calculating tax refunds is a complex process and many people are unfamiliar with the process. You are liable for a tax refund if you have been working and paying your taxes in the UK regularly.

With the help of P45 and P60 forms, you can easily calculate the amount of tax that you have paid in a financial year. With the help of a tax calculator, you can understand if you are eligible for a tax refund. Students who earn below the tax free allowance are eligible for a full tax refund. Seek expert help if you are unsure about the whole process.

Easy way to apply for tax rebate

There are certain documents that need to be attached with your application form. Failure to do so will result in your tax rebate application being rejected and sent back. P45, P60, P85 and P86 are some of the documents that need to be attached with your application.

Do not hesitate to speak to a professional if you are unsure about the documents that need to be attached. Place all your forms and statements of earnings in a folder and send it along with your tax refund application to your local tax office.

How long should you wait for the claimed tax?

Once you make your application, you will receive the money within 6-8 weeks. In the event of delayed service, the most likely reason is that some of the forms are missing. The deadline to apply for a tax rebate is usually 6 years; however it is advisable to claim a refund as soon as possible.

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