Tax Rebates & Refunds

The information required to calculate tax rebate entitlement

May 17, 2012
Posted in Tax Rebates — Written by Geoffrey

You only need to have a few bits of information to figure out whether you are entitled to claim for a tax rebate when you leave your job. All this information can be found on the P45 form that follows you resignation, redundancy or dismissal. It is important that you keep these documents and treat them with the importance they deserve because you may need them in the future.

The information you need from your P45 form includes your gross pay. This is the money you have earned before tax. You will also need to find a figure for the tax you have paid on those earnings. This figure is included on the P45 form. Finally, you need the tax year these earnings apply to, which will straddle two calendar years (i.e. 2009-10).

Tax agencies usually offer a free calculator on their websites where you can enter this information and determine whether you are entitled to a refund given the tax you have paid on your gross earnings for a given year and the tax you should have paid on those earnings for that particular year.

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