Tax Rebates & Refunds

Tax rebates – Get your hard earned money back

December 2, 2010
Posted in Tax Rebates — Written by Jennifer

Have you paid more income tax this year? If your answer is yes, then you must apply for tax rebates at the end of the tax year. It is proved that most individuals have overpaid on income tax at some point in their lives. This is because of various reasons such as the emergency or wrong tax code, part time employment or earning less than the threshold.

How to calculate tax rebates

If you want to know how much income tax you can get back from the government then you must use an online tax calculator. Enter details such as tax paid, income earned and the specific year into the calculator. It will display the amount of income tax you have overpaid.

When to claim for tax back

Once you have calculated how much you have overpaid and you are ready with all the documents then you need to send the application form to the local tax office. All the individuals who want to claim a tax refund must apply at the end of the tax year. In some cases, if the applicant is moving out of the country then he/she can apply at any time of the year.

What documents are required with the application form?

If you want to apply for tax rebates then you must have few documents such as a P45, P60, P85/86 and P91. Attach these documents to your application form and then place them with a cover letter. Mail this cover letter to the local tax office or the Inland Revenue.

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