Tax Rebates & Refunds

Getting round to calculating tax when you start a new job

March 28, 2012
Posted in Tax Rebates — Written by Chris

Being taxed too much can certainly spoil the excitement of a new position. Tax is something that you need to make the relevant authorities get right because it has such an important effect on your life. This is purely down to the fact that it helps to determine how much of your money you are at liberty to put towards bills and other things.

When your tax comes in too high you may not immediately realise. Starting a new position often means addressing a lot more work than you are used to as you adapt to the role and so you may not get around to looking closely at how much tax you have been charged on your earnings and how much tax by your estimation you should have been charged.

When you finally get around to doing the calculations you might find that you have been getting by on less than you are entitled to. In this event, you must contact the HMRC to have the situation resolved. You can do this through a tax agency. This course of action does not just settle the matter for the future. It also generates a tax refund so you can recover what you have lost.

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