Tax Rebates & Refunds

Employees and their tax refunds

April 23, 2011
Posted in Uncategorized — Written by Geoffrey

Employed people often miss out on the opportunity to apply for a tax rebate. They are either too busy or they couldn’t care less about tax rebates. However, tax rebates are nothing but your money, your hard earned money. The main reason for people to ignore the possibility of obtaining a tax rebate is that they do not know and are not sure how to go through the application process.

How to go about filing a tax rebate

Every year, millions of pounds go unclaimed since many people shy away and do not claim for their tax rebates. If you want to apply for a tax rebate, you must lay your hand on one of the most important forms that taxpayers deal with; the P60 form. This form shows the actual amount of money that you have paid as tax. This is given by your employer at the end of a tax year. It also shows the actual amount of money you have received in a given year.

Once you get this form, use a simple tax calculator to work out your taxes by entering the right amount in the right place. In case you do not possess your P60 form, you should ask your employer to supply you with your statements of earnings.

If you are fully aware of the fact that you can apply for a tax rebate, attach the P60 form with your application and send it to revenue and customs. Before applying for a tax rebate, you can get some professional help as well. You must consult a tax professional who can guide you and will tell you what to do and what not to do.

Once you have sent your application to revenue and customs, just wait for them to get in touch with you. One thing must be kept in mind, that the tax governing authorities get a lot of applications for tax rebates. You must apply for your rebate early, so that you can get your refund.

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