Tax Rebates & Refunds

10 reasons you might have paid too much or too little tax

August 21, 2012
Posted in Income Tax, Tax Rebates — Written by Geoffrey

The tax you pay on your income is calculated using a number of factors, including the amount you earn, your tax code and your personal circumstances. In most cases, tax calculations are accurate. However, there are a few reasons why your tax may be miscalculated and you need to claim a tax rebate.

The reasons why you might have paid too much or too little tax include the following:

1. Your employer was using the wrong tax code
2. You only worked for part of the year
3. You are self-employed
4. You were on an emergency tax code rather than a code suiting your circumstances and earnings
5. You had two or more jobs at the same time
6. You filled in your own tax return and you made a mistake or a miscalculation
7. HMRC made a mistake when calculating your tax
8. Your circumstances changed (i.e. you may have been made redundant or became self-employed)
9. You had other income, such as rental income or investments, for example
10. You paid tax on your savings even though you were on a low income

If for one or more of these reasons you paid too little or too much tax on your income, you can reclaim it by filling in a tax rebate form.

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