Tax Rebates & Refunds

When redundancy presents new financial issues

April 2, 2013
Posted in Tax Rebates — Written by Geoffrey

Becoming unemployed quite suddenly is something that most professional people fear. Job security is not all that easy to come by these days because cuts are rife in different sectors and seems as though there are very few areas where growth is guaranteed. Redundancies often come as a total surprise and become effective immediately which leaves people in a very difficult situation given that the job market in the UK is not at its healthiest at present.

As well as seeking out new professional opportunities in the job market, people who are made redundant because of cuts or because of the challenges faces by their employers need to make sure they don’t end up paying more tax for the year than is fair given their break from full time work.

The last thing anyone wants to happen when they are made redundant and have money issues to face is for tax to present another issue and to leave them even more out of pocket. If too much tax is charged then the tax can be claimed back. It is also very important for the HMRC to be made aware of the changes if possible.

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