Tax Rebates & Refunds

Need to know more about your tax rebate?

September 30, 2010
Posted in Tax Rebates — Written by Geoffrey

Tax rebates can be a blessing in disguise for the public, especially during tough economic times. However, there are many who are not aware of what this actually is or how they can get it. In simple terms, a tax rebate is a refund of a person’s tax when they pay more than what was needed.

What is the procedure for a tax rebate?

When an individual is entitled to a tax rebate, the government mostly provides a refund cheque to the taxpayer. This is done to cover the gap between the tax required and the amount paid. However, the taxpayer needs to fill out certain forms and provide proof of income in order to become liable for a tax rebate. These forms are available at the HMRC or the local tax office.

Why you are given a tax rebate

There are a number of reasons as to why a person is entitled to a tax rebate. During a financial year, the government takes some extra money as emergency tax. The government rectifies this by giving back a portion of the amount paid during the year. Another reason that a person may get a tax rebate is if the government has charged a lot on home taxes. In such cases, a small tax rebate is granted to level the payments.

Filling out forms and sorting out paperwork to get a tax rebate is tricky and confusing for many people. Seek professional help when it comes to filing tax returns. These professionals are highly trained experts who understand your needs and will file for a tax return accordingly.

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