Tax Rebates & Refunds

Tax rebates – An introduction

May 21, 2011
Posted in Tax Rebates — Written by Geoffrey

Most people are not even aware that they are eligible for a tax rebate. This is the reason why they may lose out on a lot of money which they rightfully owe. Everyone should see if you are entitled to get a tax rebate from the HMRC.

Who can get a tax rebate?

The simple fact that you are a student does not imply that you are definitely eligible for a tax rebate. But since most students have occupations which are not permanent in nature and they don’t earn over the tax free allowance they become eligible for a tax rebate. If a student has paid their taxes but does not work for the entire tax year, then they are likely to get a tax rebate or refund.

Another case where you may be owed some money by the government as a tax refund is if you are permanently leaving the UK. Since you may be leaving in the middle of the tax year, you may not have used your entire tax free allowance. Hence it is always a good idea to look into this if you are planning to emigrate.

National insurance may also have been overpaid. If you have overpaid national insurance then you will be eligible to get some money back. Though this may not strictly fit into the tax rebate criteria it serves a similar purpose.

In any tax rebate calculation it is always better to seek the help of a professional tax advisor. They will be able to guide you along the quickest path to fulfil all the formalities and get you what you are owed as quickly as possible.

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