Tax Rebates & Refunds

The role of your P45 in getting a tax rebate

October 4, 2010
Posted in Uncategorized — Written by Chris

A P45 is an important tax document that your employer will provide after you leave a job. This document has all the details about your earnings and the taxes you paid during the tax year.

What details does a P45 show?

• Your tax code
• Your PAYE reference number
• Your income for the financial year
• The amount of tax you paid during a tax year
• The date you ended your employment
• Your national insurance number

You may also be due a tax rebate if you were put on an emergency tax code. When you begin your employment for the first time, your employer may not know which tax code to put you on. In such a case, you may be put on an emergency tax code. Thus, you may end up paying more tax.

How to determine whether you are due a tax rebate

After you get your P45, you need to enter the values, i.e. your earning and taxes you paid, into a tax rebate calculator. This will provide you with an approximate value of the tax rebate you are eligible to get. In the event that you have lost your P45, you can ask your former employer to provide you with a statement of earnings.

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