Tax Rebates & Refunds

Some FAQs pertaining to tax rebates in the UK

June 23, 2011
Posted in Tax Rebates — Written by Jennifer

Do you work and pay your taxes regularly in the United Kingdom? If the answer is yes, then you may be entitled to a tax rebate. Contrary to popular belief, calculating tax rebates is a fairly easy process, once you become accustomed to it.

How to calculate tax rebates

With the help of the P45 and P60, you can easily calculate the amount of tax owed to you by the government. Use an online tax calculator to determine if you eligible for tax rebates. Enter the amount earned by you in the fiscal year and the amount of tax paid. The eventual amount that comes up on the tax calculator is the amount you will receive as a tax rebate.

Note that you will receive tax rebates even if you have been earning below the tax free allowance.

How to file for a tax rebate

You will need to attach several documents when filing for a tax rebate. The P45 and P60 documents are some of the forms without which you will not receive a rebate. Ensure that you fill in the tax form correctly before submitting it to HMRC. If you have misplaced your P45 or P60, ensure that you inform your employer and the HMRC at the earliest opportunity. You will then be given an emergency tax code and a ‘Statement of Earnings’ with the help of which you can claim for a rebate.

How long it will take for you to get your rebate

Once you have submitted the tax documents along with the necessary paperwork, you should receive the money within 6-8 weeks.

Filing for tax rebates is an easy process. However, it is important to opt for expert advice if you unsure. These experts are highly trained professionals and will be able to guide you appropriately.

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