Tax Rebates & Refunds

Tax rebates – some important things you should know

January 4, 2011
Posted in Tax Rebates — Written by Geoffrey

If you live, work and earn in the UK and pay your taxes regularly, you may be due to a tax rebate. Every year, many people over pay their taxes due to several different reasons.

Depending on your tax code, your employer will know how much tax is to be deducted from your wages. If you want to know your tax code, you can check it on your P45, P60 or wage slip.

PAYE Tax rebate

The PAYE or Pay As You Earn system is used by most employers for deducting taxes from your wages. If you think that you have overpaid your taxes during a financial year, you can apply to claim tax back.

Some reasons why you may have overpaid your taxes

• You had multiple jobs at the same time
• You were on a temporary or emergency tax code
• Your employer put you on the wrong tax code
• Change in circumstances, for instance you retired, were made redundant or became self-employed

If any of the above is true, there is a chance that you may be due to a tax refund.

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