Tax Rebates & Refunds

Tax refunds – how does the PAYE scheme apply to it?

June 14, 2011
Posted in Tax Rebates — Written by Jennifer

When the time for tax filing comes along, you are all prepared with the correct documents to apply for the tax refund claim. Tax refunds are basically the amount returned to you because you paid extra tax than what was initially required from you. Employees in every company are issued a tax code by the government based on which your employer assesses as the amount of tax owed by you, before deducting this amount from your monthly salary.

Different services and PAYE

Many people are eligible for tax refunds. This article will, however, discuss the tax refunds for services that work on the PAYE scheme. How much you can claim depending on your profession is what the following paragraphs will discuss in brief.

Construction

Before applying for the tax refund, you need to know whether you fall into the self-assessment or PAYE scheme. The total amount that builders can claim in the United Kingdom in the form of tax refunds is around a hundred and twenty pounds.

Electricians

As an electrician, working under the PAYE scheme you can claim up to a hundred and thirty pounds in the United Kingdom. Electricians who work for a company are eligible to apply for the tax refunds through this scheme.

How does this work?

Employees that use their own machinery or those who belong to a certain company and are allotted uniforms can apply for tax refunds under the PAYE scheme. People falling within a certain income bracket are eligible to file for tax refunds.

If you are on the PAYE scheme then you should apply for tax refunds before time runs out. Get help from a tax professional to ensure the smooth functioning of the process.

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