There are 30 million taxpayers in the UK and, according to the latest research by tax refund company Refunds Direct, around 1 in 3 are owed a tax refund. Alarmingly, one of the most common payment mistake areas is income tax, where the average refund is over 800.
Why don’t you know about it? Many people believe the Government will refund overpaid tax. Sadly, this is not true and it is an individual’s responsibility to claim their tax back.
Income tax overpayment affects a lot of people. Thankfully, unlike the tax system itself, finding out of you’re due a refund is quite simple. Firstly, ask yourself if any of the following apply to you or to someone you know: have you worked for part of a tax year? Have you paid emergency tax for 3 months or more? Have you had numerous jobs or worked for through agencies? Have you had substantial gaps in your employment? Have you entered the UK to work or are leaving the UK? Are you a student who has a holiday job or placement?
If you can answer ‘yes’ to any of these questions, you may want to find out more – and now there is an easy way to do just that. Most of us find the tax system a...
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