Tax Rebates & Refunds

Tax rebates – How to claim back overpaid tax

January 22, 2011
Posted in Tax Rebates — Written by Geoffrey

Sometimes, while at work, you might end up paying too much tax. This can happen due to different reasons such as having two or more jobs at the same time or because you changed jobs.

If you think that you have paid excess tax, you can apply for a tax refund to re-claim these overpaid taxes.

How can you overpay tax?

• You have started a new job and been put on an emergency tax code
• Your employer puts you on an incorrect tax code
• You were employed for only half the tax year
• You are a student and worked only during the holidays

You also become eligible for a tax-rebate if you have had more than one job. If you stopped working and did not receive any taxable benefits or earnings for the rest of the year, you might also be entitled to claim some tax back.

Tax codes – How are they assigned?

The local tax office issues you the tax code. This will depend on your income and entitlement of allowances. Your tax code can be found on your wage slip.

Your P45 or/and P60 are important tax documents that will be provided by your employer. These documents contain information about your earnings and the taxes you pay. By entering your figures from your P60 or P45 into a tax refund calculator, you will know whether or not you are eligible for a tax refund. It will also provide you the amount you should be able to claim back from the HMRC.

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