Checking your eligibility for a tax rebate
Nowadays, when the cost of living is rising and household incomes are dropping, it is understandable that most people are trying to find ways to save or make a little extra money. However, because we don't know how to claim, many of us may actually be missing out on some much-needed extra cash - via tax rebates.
So, in what situations might you be eligible to claim tax back? There are a few types of people who could benefit from a tax refund, including students, part-time workers, those who become self-employed and people who leave the country to live overseas.
As well as these groups of people, full-time UK workers may also be able to claim. If you start a new job and your employer isn't sure which tax code to put you on, you may end up on an emergency tax code. This code means you pay far more tax than you need to, but don't worry - you are entitled to claim tax back.
Some people don't earn enough to pay the full tax rate, and this includes students. Most students only have part-time jobs, to fit around their studies, so they are unlikely to earn more than the current tax allowance threshold. So, if you are a student, a part-time worker, or you have a low-to medium income over the year, you may be entitled to claim a tax rebate.
In other situations, people who stop working, leave the country or become self-employed mid-way through the year end up paying a full year's tax. These people are also entitled to apply for a tax refund.
It doesn't cost anything to find out whether you are eligible for a tax refund, and you could end up with hundreds of pounds extra in your bank account. So, even if you think an incorrect calculation has been made with your tax, it's always worth finding out.
Do you think you might be eligible to claim tax back? Why not take a look at www.taxrebate.co.uk ?
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