Tax Rebates & Refunds

Circumstances where you might be entitled to a tax refund

June 20, 2011
Posted in Tax Rebates — Written by Chris

This article will give you an overview of how you can claim a tax rebate. Who would not welcome any extra cash in today’s trying financial times? There are rent, mortgage payments and bills to be cleared. Then there are clothes, fuel and loads of other financial commitments too.

Not everyone has the luxury of a high paying job. The question remains as to where do we find all that extra cash required.

One neglected source is a tax refund. If you are employed, there is a chance that you may be entitled to a tax refund, and you may not even know about it.

HMRC’s (Her Majesty’s Revenue & Customs) is only limited to tell you when you have to pay up, not to keep track of all the unclaimed refunds.

There are various reasons why you may have overpaid on your tax:

1. You may have worked for a part of the year and then switched jobs in between.
2. You may have been on an incorrect or an emergency tax code.
3. You might have decided to go the self-employed way or may have retired halfway through the year.
4. You may have been holding a number of jobs at the same time.
5. If you have received your pension via a huge lump sum instead of monthly payments, the tax charged could be higher than what you should be paying.
6. A student working over the holidays is not expected to pay any kind of tax.

The fact remains that you are usually entitled to a tax refund in any of the circumstances above.

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