There are 30 million citizens in the UK and, according to the latest study by tax refund company Refunds Direct, around 1 in 3 have been owed a tax refund. Alarmingly, one of the most frequent payment mistake regions is income tax, in which the average refund is over 800.
Why don’t you know about it? Many men and women think the Government will repay overpaid tax. Sadly, this isn’t accurate and it’s an individual’s responsibility to maintain their taxation.
Income tax overpayment impacts a whole lot of individuals. Thankfully, unlike the tax system itself, finding out of you are due a refund is quite simple. First, ask yourself whether any of the following apply to you or to a person you know: have you worked for a portion of a tax season? Have you paid emergency tax for 3 weeks or more? Have you had multiple jobs or worked for through agencies? Have you had considerable gaps in your job? Perhaps you have ever entered the UK to operate are leaving the UK? Are you currently a student that has a holiday job or placement?
If you can answer’yes’ to one of these questions, you may choose to find out more – and today there is an easy means to do exactly that. The majority of us find the tax system a bit daunting (8 out of 10 individuals admit to not knowing it), but help is at hand. With’no win, no fee’ services that takes all the taxing work out of tax work, help can be obtained.
Mike Oaten, from Refunds Direct, explains:”Around 10 million people in the UK are potentially owed tax refunds. Many many millions of pounds in refunds goes unclaimed each year. Unless individuals act now it all stays from the taxman’s pocket.”
“Our goal is to make everybody in the country aware that they could get tax refunds and let them get their money back.”
You may be eligible if you
* Worked for a portion of a tax year
* Paid crisis tax for 3 weeks or more
*’d numerous jobs for functioned through agencies
*’d substantial gaps in your employment
* Entered or abandon the UK to work
* Are you currently a student who has worked holiday job or placement
You are unlikely to be eligible if you
* Stopped work after which maintained Job Seekers Allowance? If this is this is the case, any refund could have been repaid from the benefits office.
* Stopped work part way through a tax year due to pregnancy leave or retirement.