Tax Rebates & Refunds

Want to claim tax back? Read the following information

November 25, 2010
Posted in Income Tax — Written by Jennifer

If you have paid too much income tax to the government this year then you need to apply for a tax rebate. All you have to do is fill in the application form and send it to the Inland Revenue or local tax office at the end of tax year. Today, many individuals are applying for tax back because they have paid too much. The following are some reasons why you may have paid too much income tax to the government:

• Leaving the country permanently
• Working part time
• Working as a student
• Retired from work
• Earning below tax free allowance

Tax rebates – How are they calculated?

If you want to know whether you have paid too much money to the Inland Revenue you can use an online tax rebate calculator. When using this calculator, you have to include various details such as the income earned, tax paid and relevant tax year. Once you have entered this information you will get an estimate of the amount of tax refund you are likely to expect.

Which documents do you require when applying for a tax refund?

After using the calculator and have paid extra tax then you should apply for a tax rebate straight away. Along with the application form, you may have to attach other documents such as your P60, P45, P85, P86 or P91.

In addition to this, you may also have to provide other documents which have information related to the amount of bank interest you earn, profits on cashing an endowment or any dividends.

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