Tax Rebates & Refunds

A bit of simple maths behind tax exploration

July 1, 2012
Posted in Tax Rebates — Written by Chris

Maths is few people’s favourite subject. It has its fans, unquestionably, but there are not many of them and those that are keen on maths are not necessarily keen on its application in the real world, or in fairly unappealing administrative matters, of which taxation is a clear example. However, you do need to get your maths head on every now and again to make sure you are paying the proper amount of tax. Your wallet depends on it!

You don’t need to be a maths genius to figure out whether you are paying more tax than is appropriate at any given time. You only need to come at the calculation with the right figures, i.e. your salary and the year it applies to. Tax agencies use these figures in a simple formula and immediately ascertain whether you are being treated fairly or unfairly by the powers that be.

Tax agencies do more than that. They also use this information to sort out a tax rebate for you. They do this by using their expertise in taxation to devise a suitable form of correspondence with the HMRC that yields results in terms of the organisation’s speed and efficiency in looking into the matter themselves and generating your cheque.

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