Tax Rebates & Refunds

Want to claim tax back? Read on

November 18, 2010
Posted in Tax Rebates — Written by Chris

Many taxpayers in the UK are claim tax rebates because they have paid extra income tax to the government. By applying for a tax rebate, an individual can get back the money which he or she has paid to the HMRC in a specific tax year. If you are PAYE there are many reasons why you might be charged to much:

• Earned less than the tax threshold
• Left a job
• Emergency or wrong tax code
• Going out of the country

How can you calculate how much tax you have overpaid?

If you know that you have overpaid income tax then you can use an online tax calculator to calculate your tax rebate. You have to enter the details such as how much money you earned during the tax year and the tax paid.

When can you apply for a tax rebate?

If you have decided to claim a tax refund then you have to wait until the financial year ends. This means that you can apply for tax rebates at the end of April. People who are leaving the country can claim a tax rebate at any time of the year.

How much tax can you claim back?

This completely depends on the amount of money you earn. If you earn less than the tax free threshold then you are entitled to get the full amount repaid. If your income is more than the threshold then the refund will depends on the tax code, tax paid and period of employment.

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