Tax Rebates & Refunds

Tax rebates – a few things you need to know about them

November 15, 2010
Posted in Tax Rebates — Written by Geoffrey

When calculating tax rebates, there are many things that people do not take into consideration. They fail to understand the basics and so this may cause a delay in receiving the tax rebate.

Reasons for tax rebates

There are many reasons why the tax commission would owe you tax rebates. Most of these reasons arise from the tax free allowance that the government gives to those individuals who earn below a certain threshold. You can be eligible for tax rebates if you have lost your job during a given tax year or if you are leaving the UK permanently. Tax rebates are the result of the unutilised money that you have paid to the government. This implies that you paid more money than what you were supposed to pay.

Tax rebates in the UK

The issue of tax rebates in the UK is a major one. The time taken to receive tax rebates can depend on whether you have filed all your documents in the right manner. You should ensure that there is no required document that you have failed or forgotten to file. Missing documents could mean it would take ages for you to claim tax rebates. You should not file for tax rebates during the peak time of the year. The peak time of the year is when most people file their income tax returns. In a normal situation, it will take anything between six to eight weeks to receive the money.

You should not waste any time in contacting the income tax commission when you realise you are eligible for tax rebates. The maximum period is six years within which you can apply for them. You should not misplace any of your vital documents required to claim the rebate.

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