Tax Rebates & Refunds

Tax rebates – claiming tax back if you are under 18

September 23, 2010
Posted in Tax Rebates — Written by Geoffrey

In the UK, many people under 18 years of age start working part time in order to meet their needs. In such a case, there is a chance where you may have paid too much tax. If you are under 18 and think that you have overpaid taxes, you can apply for a tax rebate.

Many people believe that people under 18 years of age can claim all of their tax back. However, this is not so. The amount of tax rebate one can get depends on earnings and the taxes they have paid. Irrespective of whether you are a part time or full time worker, the amount of tax refund completely depends on your earnings and the taxes you pay.

How to calculate tax rebates

At the end of every tax year, your employer will provide you with a P60. This is an important financial document that has all the details about your earnings and the taxes you pay. Entering these values into a tax rebate calculator, you will get an estimate of the tax rebate you are eligible to get.

If you do not have a P60, you can ask your employer to give you a statement of earnings. Officially, your employer has to provide you with a P60 or statement of earnings for up to 6 years. Once you submit all the required documents, it may take anywhere between 4-6 weeks to get a tax refund. If you want the tax rebate process to go smoothly, taking professional help is a good option.

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