Tax Rebates & Refunds

Here is some important information on tax rebates

September 28, 2010
Posted in Tax Rebates — Written by Geoffrey

Many people do not have proper knowledge of tax payments. These individuals end up paying more tax than required. If you are one of these people then you can claim tax back. More tax is often paid when the tax code has been wrongly assigned. If this is the case with you, then follow the few steps given below:

Immediately contact your local tax office

As soon as you realise that you have been assigned with the wrong tax code and a higher tax amount is paid by you, be sure to contact the local tax office immediately. The officials will take the necessary steps to correct it, although the process might get complicated with the passing of time.

You need to submit documents related to the salary and tax payments. Other details like your date of joining and P45 form will also be needed.

‘Pay as you earn’ notice and tax codes

After filing tax rebate at the local office, the tax department issues a tax code to you. This contains the information related to your salary, income and allowance as per the details submitted by you. A tax code is then given to you and your company to deduct the tax amount accordingly.

You can still claim tax back when changing your job

A P45 form is meant for people who are leaving their current job and are liable for a tax refund. This form contains all the details required about your last job related to tax payment like your salary, tax deducted and the total tax amount paid. This makes the refund much easier.

No Comments (Leave comment »)

No comments yet.

Comment RSS | TrackBack URL

Leave a comment