Do you know anything about income tax refund? Hopefully after reading this article, you should be more familiar with it.
1. What is income tax refund?
An income tax refund is the money received from HMRC as a result of paying more tax than required in one tax year. Usually there a few reasons why you have paid too much tax:
- Have multiple jobs at the same time
- Use your own money to buy essentials for job
- You are a student and only work during holidays
- Been working from home and have extra expenses incurred
- Change of circumstances, e.g., from full-time to part-time
Yet, you cannot claim your tax refund if:
Your employer give all the money back
Your employer provides essential items for work, e.g., a camera but you want another model
2. Who can get a tax refund?
You may get a tax refund (relief) if you have been working from home during the coronavirus pandemic. To see if you have overpaid tax, you can use our calculator to check if you are eligible for a tax refund.
3.What documents are required for a refund?
First things first, please check if you have these documents ready to claim your refund:
- 10 digit unique taxpayer reference (UTR) provided by HMRC
- Self Assessment tax return for the relevant tax year
- P60(s) provided by your employer for the relevant tax year
- P11D(s) provided by you employer, reporting benefits in kind for the relevant tax year
- Photo ID
- Proof of address
- UK bank account held under your personal name
5. How can I claim a tax refund?
You can claim by clicking here to get a free consultation to estimate your tax refund.
