Chasing new opportunities can mean bidding adieu to the country where you've lived and worked - but that doesn't mean you have to say goodbye to your tax refund. If you are leaving or have left the UK within the last four years, chances are the HMRC has a tax refund with your name on it.
A tax refund is a reimbursement of money in situations where a taxpayer owes less tax than the sum total of taxes paid. The amount of the refund is affected by your income, which includes your basic earnings, interest from savings and investments, returns on rental property, and any work-related benefits. Some reasons for a UK back tax refund include:
1. The tax code associated with your income is or was incorrect
2. You didn't claim allowances for the year in which you left the UK
3. Not all tax allowances were claimed in the year the taxpayer left the UK.
4. Other reasons - there are many reasons why an individual might receive a tax refund especially for certain professions
Your first step when leaving the country should be to fill out and submit a leaving the UK P85 form. Depending on circumstances, a P45, P60, or P11d might be necessary as well. These extra forms include important information - amount of taxes paid, work-related benefits or expenses, and employment history. Upon submitting a P85, HMRC will sometimes ask for a self-assessment tax return to be completed before they send out your tax refund. A self-assessment tax return is often for self-employed individuals, or individuals generating income from rental properties or other alternate sources.
If you think leaving the UK might entitle you to a tax refund, don't let the paperwork intimidate you - services like TaxRebateServices.co.uk offer free tax calculators that tell you just how much money might be due and how to claim it back.
A tax refund is a reimbursement of money in situations where a taxpayer owes less tax than the sum total of taxes paid. The amount of the refund is affected by your income, which includes your basic earnings, interest from savings and investments, returns on rental property, and any work-related benefits. Some reasons for a UK back tax refund include:
1. The tax code associated with your income is or was incorrect
2. You didn't claim allowances for the year in which you left the UK
3. Not all tax allowances were claimed in the year the taxpayer left the UK.
4. Other reasons - there are many reasons why an individual might receive a tax refund especially for certain professions
Your first step when leaving the country should be to fill out and submit a leaving the UK P85 form. Depending on circumstances, a P45, P60, or P11d might be necessary as well. These extra forms include important information - amount of taxes paid, work-related benefits or expenses, and employment history. Upon submitting a P85, HMRC will sometimes ask for a self-assessment tax return to be completed before they send out your tax refund. A self-assessment tax return is often for self-employed individuals, or individuals generating income from rental properties or other alternate sources.
If you think leaving the UK might entitle you to a tax refund, don't let the paperwork intimidate you - services like TaxRebateServices.co.uk offer free tax calculators that tell you just how much money might be due and how to claim it back.
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If you are leaving or have left the UK in the last 4 tax years Tax Rebate Services can help you claim UK tax back.
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