How To Know Whether You Are Entitled To A Tax Rebate
Whenever anyone mentions the tax rebate, many people usually set out to ask themselves whether or not they are entitled to one
. Unfortunately, many of them still do not know what to look out for to determine whether the revenue commission owes them any money. In this article, I would like to provide a checklist that will hopefully make it easier for you to determine whether you are owed some money. Before I start on the list, I would like to state that the list in itself is not in any way exhaustive. However, it is a good place to start from.
Are You A Student?
Although being a tax paying student in the UK does not in any way mean that you are due for a tax refund, the fact that your nature of work that you do is one which normally is not permanent means that someone owes you some money. If you are a student and you have paid all your dues to the revenue commission and you do not work throughout the year, then you need to see your tax agent to determine whether you are owed any monies.
Are You Permanently Leaving The UK?
After checking out whether or not you are a student, the other circumstance which can cause you to be owed a tax-rebate by the revenue commission is that you could be permanently leaving the UK during the tax-year. If this is the case, then it means that you were forced to pay some money to the commission when in fact you had not utilized all your tax free allowance. Therefore, it is important that check this out before you leave the UK. However, it is important for you to realize that if you are leaving the UK, it should be permanent and it should be during the tax-year.
Rebates From The National Insurance
Although this is not a tax rebate in the true sense of the word, but it serves more or less the same purpose. You may be in a situation where you are owed some money by the National Insurance. This arises in cases where you have made overpayments to the body or if you have made contributions that you weren't supposed to make. If such a case happens, then you are entitled to a tax rebate.
In many cases, people are entitled to tax rebates more often that they know. It is only that when they start wondering whether they are owed any monies, they usually go to the wrong places.
How To Know Whether You Are Entitled To A Tax Rebate
By: David Desouza
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