Tax Rebates & Refunds

Ease the interim period between losing your job and finding your next with a tax rebate

September 23, 2011
Posted in Tax Rebates — Written by Geoffrey

Losing your job always comes as a real blow. Whether you are fired or you are made redundant, the consequences of losing your job can be very severe. You will obviously have to cope with a reduced income until you are able to find another job – something that is clearly very difficult if you are single or if you have children or are responsible for other dependants.

When you lose your job, your primary concern is about getting back to work as quickly as you can, but a period without your usual income is usually inevitable – even if you find a replacement job relatively quickly. During this period of time, you may need to pull your belt in, but you can make things easier by sorting things out regarding your tax.

Losing your job interrupts the tax calculations based on your salary over an entire year. As a result of the interruption in your income, your previous tax payments will represent an overpayment. Arranging for a tax rebate to the tune of the amount you have overshot the original calculations purporting to your tax code could help you face the interim period between now and your next job.

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