Tax Rebates & Refunds

How to apply for tax rebates if you are employed

July 24, 2011
Posted in Tax Rebates — Written by Chris

If you are an employed person and think that you are due a tax refund but not sure about how to proceed then read on.

Every year millions of pounds go unclaimed by people who are either not aware that they could have claimed back their money or by those who are not familiar with the procedure. There are some others who know about tax rebates and also know how they can claim some of the money back but do nothing about it.

The first thing that you need to do is to lay your hands on the form P60. This is the form that will be given to you by your employer at the end of the year stating how much tax you have paid through the whole year. It also shows the amount that you have received as income in the year. If you do not receive this form for some reason, then ask your employer to provide you with a statement of earnings which is more or less the same thing.

Once you have this form, the next thing you need to do is to get a tax rebate calculator that is based on the UK tax system and feed in the respective sections. This will tell you if any tax refunds are due to you.
After you have determined the amount that you are supposed to receive, fill out the application and attach your form P60 with it. Then you need to forward this to HMRC. It is advisable to consult a tax professional who will be able to guide you properly through the entire procedure.

After you have sent your documents, you will have to wait for them to get in touch with you. Only then will you be able to receive the information that you need. It is therefore advisable to apply for the tax refund as early as possible.

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