Tax Rebates & Refunds

Demystifying tax rebates for students

January 25, 2011
Posted in Tax Rebates — Written by Geoffrey

Many students do not understand the concept of tax rebates. It is therefore important that students understand this concept as almost all students start working after the completion of their education and hence part way through a tax year. Sometimes, students are unaware that they may be due a tax refund. Here is a brief guide which will help students to understand when they are actually due a refund.

If you started employment during the current tax year

Most jobs follow the ‘pay as you earn’ arrangement as most people earn money on a monthly basis. Thus, according to this system the total amount of tax free allowance you are entitled to is divided into twelve parts. It’s worth keeping in mind that you will most likely be eligible for a tax refund if you joined your job part way through the current tax year.

If you quit your job during the tax year

If you have worked for first three months of the tax year and are not in employment for the remaining nine months you will be eligible to receive a tax rebate.

Students can get more information regarding tax rebates from the HMRC website or the local tax office.

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