Tax Rebates & Refunds

Understanding your tax rebate

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

The income tax procedure in the UK can be quite complicated. This makes it tricky for individuals to gauge if they qualify or have qualified for a tax rebate.

Who can get a tax rebate?

Sometimes individuals pay additional taxes in a financial year unknowingly. This is one reason through which a tax rebate can be claimed. Another criterion for a tax rebate is when tax free allowances are due. A tax rebate might also be applicable if someone is self employed. Tax rebates can also be claimed by someone who uses their personal finances for business purposes. For example, if a salesman uses his own vehicle while travelling for work purposes and is not compensated by his employer.

Working students are also entitled to tax rebates. Because they work part time they are not guaranteed a fixed income. The same applies to individuals who do not have a fixed sum of income in a financial year. A tax rebate is also applicable to those who have left their jobs part way through a tax year.

Tax rebates also apply to individuals who leave the United Kingdom midway through a financial year. This is because these people have not used all of their tax free allowances under the PAYE (pay as you earn) scheme. The clause here is that the person should not return to work in the UK during the same financial year in which they leave.

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