Tax Rebates & Refunds

Claiming tax back – some questions to ask yourself

April 17, 2011
Posted in Tax Rebates — Written by Chris

Not many apply for a tax rebate. This is mainly because they are not aware of the tax refund procedure. Also, some people do not wish to go through the hassle of claiming back tax. This is why it is important to know how the tax rebate procedure actually works.

If you want to know whether or not you are due a tax rebate, there are some questions you need to ask yourself:

• Did you leave the UK prior to the end of a financial year?
• Did you have more than one employer in the financial year?
• Were you placed on an incorrect tax code (emergency tax) at any time in the past five years?
• Did you work for just half of the financial year?

If any of the above conditions are true, there is a possibility you might be eligible to receive a tax refund from HMRC. To know more about UK tax refunds, you can either hire professionals or look for more information on the internet.

The wage slip that you get from your employer has details about your tax code, your income and the amount of paid tax. Using a tax refund calculator is also recommended. It is a simple tool using which you can know the approximate value of any tax refund you are entitled to.

To ensure nothing goes wrong, hiring professionals would be a wise decision. The tax refund procedure usually takes around 4-6 weeks.

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