Tax Rebates & Refunds

Stopping work? Don’t forget to check if you can get a tax refund

August 28, 2012
Posted in Tax Rebates — Written by Jennifer

Have you recently retired, returned to study or become unemployed? If you’ve stopped working for any reason, you may be entitled to claim a refund on the tax you have paid.

It is important to remember that the tax year runs between 6th April and 5th April of the next year, so if you stop working at any time during the tax year, you may have paid too much tax. Your tax is calculated based on a full working year, meaning you may have paid more than you should have during employment if you stop work before the tax year is out.

A tax refund may also be due if:

• You are a student and were only working during the holidays
• You were made redundant and were unable to find another job
• Your employer was using the wrong tax code for you
• You retired part-way through the tax year

If you stopped working and you think you may be due a tax refund, you can make a claim through the PAYE system. Unfortunately, the situation is more complicated for people who were self-employed and stopped working. You may need to get in touch with HMRC to claim a tax refund in this case.

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