Tax Rebates & Refunds

Information on tax rebates

July 10, 2011
Posted in Tax Rebates — Written by Geoffrey

Most people do not understand the basics of tax rebates. This not only delays the process of calculating the amount to be claimed, it also slows down the procedure of claiming the rebate itself. Therefore, it is necessary to understand some of the basic facts about tax rebates.

How it arises

The HMRC can owe you money due to various reasons. However, most of these reasons are an effect of the tax free allowance given to individuals. It could be because you lost a job or it could be because you are permanently leaving the country, but tax rebates arise out of the unutilised tax free allowance. This usually means that you have ended up paying more money than you were supposed to.

How long will getting the rebate take

If you want your tax rebate within good time, then it is a good idea for you to fill in all your forms correctly and leave nothing unattended. You must have all your documents in proper order. It would also be a good idea if you did not send your claim during the peak time of the year when everybody is finalising on their tax queries. Under normal circumstances, it takes around six to eight weeks from the date of filing the claim for you to receive your money.

How far back can you claim?

According to the law, you are allowed to claim rebates for up to six years. However, it is advised that you claim your rebates as and when you realise that the HMRC owes you money. This is advised mainly because if you keep your claim pending, there is a chance you might misplace some of the vital documents.

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