Did you know that one in three people who work and pay tax in the UK are entitled to a tax refund?
5 April 2021 marks the end of the 2020/21 tax year, which means you can now apply for your 2020/21 tax refund.
With the average tax refund being £963, it is definitely worth your while.
Keep reading to find out if you are entitled to tax back and how you can go about collecting the money you may be owed.
Am I entitled to a tax refund?
Every year, millions of taxpayers in the UK pay too much tax through the PAYE system and require a refund. The following is a list of reasons why you may be due tax back:
- You are not a UK national
- You no longer live in the UK
- You worked as a short term employee in the UK
- You did not work for the full tax year
- You were subject to work related expenses
A lot of the time we don't realise that we have overpaid tax and end up leaving a large sum of money behind us. To ensure you don't make that mistake you can find out exactly what you are owed with Taxback.com no-obligation UK tax refund calculator. In just two minutes, you will receive your tax rebate estimation by simply entering the information required.
Am I entitled to any tax reliefs?
In the UK, you may be entitled to certain tax reliefs to reduce the amount of tax that you have to pay.
Some tax reliefs are given automatically but some you will have to apply for on your own. Not to worry, Taxback.com can help with the application process ensuring you receive any tax reliefs you may be due from the past four years.
Tax reliefs apply to a number of things like:
- Pension contributions
- Charity donations
- Household bills in case you were required to work from home due to Covid-19
- If you are employed but use your own money for travel expenses and things you may buy for your job e.g. equipment or tools, flat rate expenses
- Marriage allowance
If you have a double taxed income, in the UK and in your home country, a relief under the Double Taxation Agreement between both countries could be claimed.
How do I apply for a tax refund?
Whether you are paying tax through the PAYE system or as a self-employed person you could end up overpaying and be due a refund. To find out how much you could be owed check out Taxback.com free online tax refund calculator.
Before you can claim your tax refund you will need to file a tax return, a collection of forms that documents your earnings, the taxes you have paid, deductible expenses and benefits. The information on these forms is what determines whether or not you are due a tax refund from the HMRC.
Off course you can always do it yourself, but, the process can be quite stressful and time consuming especially if it is your first time.
At Taxback.com our tax experts will handle the tricky paperwork so you don't have to. Our team guarantee that you will avail of every expense and relief that you are entitled while staying fully tax complaint with HMRC.
As well as that, once we have received your maximum UK tax refund we will transfer it straight to your bank account anywhere in the world.
What are the benefits of filing with Taxback.com?
- Your personal tax advisor will ensure you receive your maximum UK tax refund
- It is a cost effective and convenient tax return service
- There is no complicated paperwork to be filled out
- We offer a 24/7 tax helpline
- Free, no obligation quote - simply use our tax back calculator to find out how much tax you are owed!