Tax Rebates & Refunds

Applying for tax rebates

October 26, 2010
Posted in Tax Rebates — Written by Jennifer

If you work in the UK and pay income tax regularly then you may be able to claim a tax rebate and get your hard earned money back. Every year some taxpayers are charged extra because of several reasons such as:

• Worked part time
• Left the country
• Earned below the allowance
• Retired from work
• Charged on emergency or wrong tax code

How to calculate tax rebates

If you have overpaid income tax and want to know how much of a refund you can get then use an online calculator. You have to enter details related to your income and tax paid to find out the refund amount. You also have to enter the tax year. You can get this information from your P60 or P45.

How many years can you claim for?

At present, tax payers are allowed to claim for the last six years. This means that if you were jobless or worked part time in any of the past six years then you can apply for a tax rebate. It is recommended to apply for a tax refund immediately because your refund may expire.

Can you claim a national insurance refund?

There are chances that you have overpaid and you can always look into it. As the whole procedure of tax rebates is complicated, it is better to hire a professional who will help you in applying.

No Comments (Leave comment »)

No comments yet.

Comment RSS | TrackBack URL

Leave a comment