Tax Rebates & Refunds

Figures and codes central to claiming tax back

July 28, 2012
Posted in Tax Rebates — Written by Geoffrey

There are just a couple of numbers and codes that you will need at the ready in order to make a claim for a tax rebate. Obviously a tax agency can help you out, but in the first instance, it makes sense to act on your suspicions by calculating whether you should be in line for a refund if you ask for one. The following figures will be important.

Tax code

Every year you have a tax code that relates to your earnings and that determines what you pay. You should approach all correspondence by referencing a tax code for the year you are in dispute over. In the end the problem may be the tax code itself.

Salary

Entered into a proper tax calculator alongside the year the salary relates to, this figure will give you a new figure detailing the amount of tax you should have paid for that year in ordinary circumstances.

Tax paid

This figure can be found on a statement of earnings or on a P60 and it indicates the amount of tax you have paid in a given year. It is this figure you need to compare with the result of your tax calculation involving your salary.

No Comments (Leave comment »)

No comments yet.

Comment RSS | TrackBack URL

Leave a comment