Tax Rebates & Refunds

Claiming tax when you experience a career hiatus

April 8, 2013
Posted in Tax Rebates — Written by Chris

There are lots of reasons why you may stop working at a particular job during the course of the year. Many people have a hiatus from work because they want to pursue another opportunity such as travelling or learning. Others give up working for the time being in order to devote more time to their families. Still others find themselves out of work due to redundancy or the termination of a contract.

So what can you do with relation to your tax situation when you do experience a break in your working year? Well, the first thing to do is to get the calculator out in order to work out whether or not you have paid too much tax so far or too little or just the right amount. This will give you an idea of whether to expect a letter from the HMRC asking for more cash or handing you some back.

Of course, once you’ve done your calculations there’s little point in sitting back and waiting for the HMRC to catch up – you may as well go looking for your tax refund so that it makes it into your account right away. If you are not comfortable doing the calculations, you may find the right advice online to help.

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