One area many people don’t look at when they’re struggling with rising debt problems is the tax they pay on their salaries.
The questions they fail to ask include:
Am I paying too much tax?
Did I pay too much tax at any point in the last six years?
What tax code am I on?
How do I claim my [...]
If you have been put on an emergency tax code at any time in the last six years then you are likely to be due a tax rebate from HM Revenue & Customs (formerly the Inland Revenue).
An emergency tax code is used when your employer or pensions provider doesn’t know what code to put you [...]
If you are a student who works you could be entitled to a tax rebate as your employer may not have taken into account the fact that you earn less than the current tax free allowance.
Anyone who earns over the tax free allowance – £6,475 for 2010/2011 – is eligible to pay tax. However, as [...]
Did you know that if you incorrectly claim for an income tax rebate you could end up paying a penalty and actually owing the tax man, rather than receiving your rebate?
That’s what happened to one man, as outlined in this story in The Times today.
The taxpayer tried to reclaim £3,000 he thought he had overpaid [...]
If you are unemployed then you may be able to claim what is likely to be a much needed income tax refund from the tax man.
Assuming you were working during a tax year but were then made redundant for whatever reason, you can probably claim some money back because of the way our tax system [...]
