Tax Rebates & Refunds

How to make sense of your tax refund

August 29, 2011
Posted in Tax Rebates — Written by Geoffrey

If you’ve received a refund on your income tax or any other tax contribution, it will either be because you’ve applied for it through a tax rebate claim or because HM Revenue and Customs (HMRC) has calculated that you are owed money. This can happen at the end of a tax year or at any point when HMRC receives new information about your circumstances.

A cheque turning up in the post or a deposit showing up in your bank account can be a nice surprise, but it is very important that you understand your refund and make sure it is correct.

You are likely to receive a tax rebate if any of the following circumstances apply to you:

• You’ve been on the wrong tax code or an emergency tax code
• You only worked for part of the year
• You had two jobs at the same time
• You stopped work to retire, return to studying, leave the country or due to redundancy
• You became self-employed
• You made a mistake on your tax return
• HMRC made a mistake when calculating your tax

If none of these circumstances apply to you yet you have still received a sizeable tax refund, you may want to query this with HMRC to make sure it is correct. You should also check the amount if it seems too much or too little, and contact HMRC right away if you have any concerns.

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