How To Claim Tax Refunds And Tax Rebates In Uk

By Author: Jacob Zuma.
Total Articles: 5
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Both tax refunds and tax rebates can be looked at as a pay rise. Conventional wisdom dictates that if you are given a pay rise by your employer, you should accept it, wholeheartedly.

Both tax refunds and tax rebates can be looked at as a pay rise. Conventional wisdom dictates that if you are given a pay rise by your employer, you should accept it, wholeheartedly. No one in their right mind would turn down such a once in a life time opportunity. However, it is ironical that most construction workers turn down the offer to get around 800 pounds per year, as tax refunds.

Take construction workers for instance who use their cars to travel between home and site as well as between sites. Those who own cars or vans can claim CIS tax refunds a certain amount of money per mile for the first 10,000 miles and even an additional amount once you have exceeded the 10,000 miles. If you travel by bicycle or motorcycle can claim a lesser amount per mile, you will not use the 10,000 mile threshold.

You will be entitled for PAYE Tax refunds for which you will have to download and fill forms.

The Revenue has a tendency ...
... to collect money rather than give it. They, therefore, do not make the giving away of money any easy. Unless you ask for it, they may not give you tax refunds easily. There is not only evidence to be collected but also some forms to be filled. No wonder most construction workers shun away from these procedures hence losing their tax refunds.

This implies that the government has been keeping millions of pounds simply because employees have not been playing an active role in claiming tax refunds. However, there are several consultants that can aid in reclaiming funds from revenue. If, after analyzing your case they find it viable, they will do the entire hard work to ensure you have accessed your tax refunds.

Every year, there are overpaid taxes in form of millions of pounds. Often, people are ignorant on how to claim tax rebates. There are various organizations and independent consultants that are willing to help out on this. Before, however, approaching any of them, it is important to know whether or not you qualify for PAYE tax refunds.

There are several aspects that make one eligible to claim for tax rebates. These are: losing your job, changing your job through the tax year, working part time, being a resident in the United Kingdom, working as a student and being on an emergency tax code. A P60 CIS tax refunds should be given to you at the end of the tax year.

The best and simplest way to check if you qualify for CIS tax refunds is to input the income and tax data in your P60 into the rebate calculator. In this case, RIFT will help you get your PAYE tax refunds after you have filled some forms which they will send on your behalf.

When making the claim for tax rebates in person, you require several forms and a cover letter. After completing all these tax documents, you need to submit them to your tax office. A tax refund agent will sieve out the relevant information required of you and present your claim to the Inland Revenue. This will help you to start getting tax rebates.
Resource: http://www.riftuk.com/