Tax Rebates & Refunds

Important facts about tax rebates

December 30, 2010
Posted in Tax Rebates — Written by Geoffrey

Do you work as an employee in the UK? Have you been paying regular income tax for years? If yes, then it is recommended to check whether you have been charged extra tax or not. This is important because every year, many people in the UK are charged more tax and they then apply for tax refunds.

How do you know whether you have overpaid or not?

If you are worried about overpaid income tax then you should use an online tax calculator to get accurate refund figures. In the calculator, you need to input details such as amount earned, income tax paid and financial year. The calculator will provide you with the amount which you could claim back.

Is the P60 very important for claiming tax rebates?

Yes. It is the most important tax document which is given to you by your employer at the end of every tax year. You will receive it in the month of April. This form is important because it contains details about your tax history. This is why you need to place it with the application form when applying for tax refunds.

How many tax years can you claim back for?

Many people have misconceptions that you can apply for tax rebates only for the last tax year although this is not true. This is because you can apply for tax rebates for the last six years. You need to have the tax documents of past six years in order to apply. Ensure that you fill in the details for all the years on the application form.

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