There are 30 million taxpayers in the UK, and the latest research from the company Refunds Direct shows that about one-third of them are due a tax refund. One of the most common places where people pay too much is on their income tax, and the average refund is over GBP800.
Why aren't you aware of it? Many people think that the government will give back tax money that was overpaid. This is not true, though, and it is up to each person to get their tax back.
A lot of people pay too much income tax. Unlike the tax system itself, it's pretty easy to figure out if you're due a refund. First, ask yourself if any of the following apply to you or someone you know: Have you worked part of a tax year? Have you paid your emergency tax for at least three months? Have you worked at a lot of different places or through an agency? Have you been between jobs for a long time? Did you come to the UK to work, or are you leaving? Are you a student with a summer job or internship?
If you answered "yes" to any of these questions, you might be interested in learning more, and now it's easy to do so. Most of us find the tax system hard to understand (8 out of 10 people say they don't), but there is help available. Help is available in the form of "no win, no fee" services that take all of the hard work out of doing taxes.
From Refunds Direct, Mike Oaten says: "There could be tax refunds due to up to 10 million people in the UK. Every year, refunds worth a lot of money are not claimed. Unless people do something now, it all goes to the tax man."
"Our goal is to let everyone in the country know that they could get tax refunds and help them get their money back."
You may be eligible if you...
- Paid emergency taxes for at least three months
- Came to or left the UK to get a job
- Been between jobs for a long time
- Had many jobs that they got through agencies
- Worked for part of the tax year
- Are you a student who has had a summer or holiday job?
You are not likely to qualify if...
Quit your job and then asked for Job Seekers Allowance? If that was the case, the benefits office would have given back any refunds.
Stopped working in the middle of a tax year because they went on maternity leave or retired.