Are you due a tax refund?
A Tax Refund is an often unheard of or misunderstood topic.
Many UK residents are under the impression that tax refunds are for foreigners who have worked in the UK for a specific period of time. You may have heard some people say that it’s just not worth the effort. Some individuals believe that if they have forgotten to claim for the previous tax year, it’s too late.
The truth is that a tax refund is applicable to anyone who has lived and worked in the UK, and you can claim your tax back for up to 4 years.
Now, what is a tax refund?
A tax refund is a repayment of PAYE tax that you have overpaid during the tax year. Statistics show that 1 in every 3 people in the UK is due a tax refund.
So, who is due a tax refund?
If you find yourself in any of the below situations, it’s very likely that you are due a tax refund.
- You’ve only worked for part of a tax year
- You’ve worked for more than 1 employer in a tax year
- You’ve had 2 or more jobs concurrently
- You’ve been taxed on a basic rate tax code
- You’ve paid emergency tax in the last 4 years
- You’ve left the UK before the end of the tax year (6 April-5 April the following year)
- You’ve been on an incorrect tax code at any point in the last 4 years
The infographic below shares a story of two expats and their journey to their tax refund.
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