UK Tax Advisory.co.uk

1. What is a tax refund?
2. Who can make a Tax Refund claim?
3. How much can I claim back?
4. When can I claim my tax back?
5. How many years can I claim tax back for?
6. Why would I have overpaid tax?
7. What do I need to claim tax back?
8. How do I get my refund?
9. What is the financial year?
10. Tax Related Documentation
11. What is a CIS Tax Refund?
12. What is a P45 Document?
13. What is a P60 Document?
14. What if I've lost my P45 or P60?
15. What is a P11D
16. Tax Codes and Emergency Tax?
17. Most Popular Tax Questions
18. Do I need a National Insurance Number (NINO)?
19. How long does it take to get tax back?
20. What is a self-assessment Tax Return?
21. Who needs to complete a Self Assessment Tax Return?
22. What if I have received benefits from my employer?
23. Can I claim my tax back when I am outside the country?
24. What are our fees?

1. What is a tax refund?
   A tax refund is a repayment of tax that you have overpaid during the tax year, as determined by HM Revenue & Customs.
2. Who can make a Tax Refund claim?
   Anyone who has lived and worked in the UK may be eligible to claim for a tax refund. Certain criteria do apply, however 97% of people are able to make a claim - even after they've left the UK!
3. How much can I claim back?
   If you have earned less than the 'tax free allowance' you will be able to claim back all of the tax you have paid (as an example, the tax free allowance for the 2009/2010 tax year is 6475 pounds).
   If your earnings exceed the 'tax free allowance', you are more than likely due a tax refund.
   To calculate you tax refund use our online Tax Refund application or contact one of our professional Tax Refunds Advisors for a free quote on 0208 731 4055.
4. When can I claim my tax back?
   You are able to claim after the end of any financial year (5th April) if you are still working in the UK.
   However, you can claim for any previous tax year at any time during the tax year. Again, if you are leaving the country, or have already left, you may claim during the financial year.
   
5. How many years can I claim tax back for?
   You can claim for the current tax year if you are leaving or have already left the UK, where you are also able to make claims for the past 5 years.
6. Why would I have overpaid tax?
   There are a number of reasons why you may have overpaid tax. The most common are;
   you have only worked for part of a tax year you have worked for more than one employer in a tax year you have had two or more jobs concurrently you were taxed on a basic rate tax code
7. What do I need to claim tax back?
   In order to claim a UK tax refund you will need to submit proof of your earnings and tax deductions for every employer that you have had in each tax year for which you are claiming.
   
   You will need a P45 for each job you have had, during the tax year, and a P60 from the company that you were employed by at the end of the tax year. You should obtain these from your employer or agency. If any P45's or P60's have been lost you will need to obtain a Statement of Earnings from your employer or agency as a substitute.
   
   If you have worked under the CIS scheme you will need to submit your Statements of Payment for each employment and each month as well as proof of any expenses that you would like to have deducted (UK Tax Advisory will assess these and let you know if any of these cannot be claimed).
   Please note: HM Revenue & Customs does not accept Payslips as proof of income
8. How do I get my refund?
   When UK Tax Advisory receives the refund cheque issued by HM Revenue and Customs, we will bank it and transfer your refund (less our fees) to your nominated bank account to almost anywhere in the world.
9. What is the financial year?
   The financial year, commonly known as the tax year, runs from April 6 until April 5 the following
   year (i.e. 2008/2009 tax year = 6 April 2008 – 5 April 2009)
10. 
    
11. What is a CIS Tax Refund?
    CIS Tax Refund stands for Construction Industry Scheme Tax Refund. Those working in the construction industry are issued with a CIS Statement of Payment at the end of each month and contract. This is a certificate of pay showing your income and tax paid on those earnings.
12. What is a P45 Document?
    A P45 document is a certificate of your income indicating how much you earned and how much tax you paid on those earnings. It is a blue, three-page form, which your employer will issue to you at the end of each employment. The top page (Part 1A) is to be kept by you for when you want to claim your tax back. Pages two and three are to be handed to the next employer. You will need to submit parts 1A, 2 and 3 of the P45 from your last employer in the UK.
13. What is a P60 Document?
    A P60 document is a certificate of income issued to you at the end of the financial year indicating how much you have earned and how much tax you paid on those earnings
14. What if I've lost my P45 or P60?
    If you have lost your P45 or P60 you will need to contact your employer or agency and ask them to issue you with a Statement of Earnings as a substitute.
    If you are unable to do this, UK Tax Advisory may be able to assist you. Subject to conditions, we may be able to follow up on a maximum of 2 outstanding documents at a cost of £20 + VAT per document.
    
    In our experience we have found that our clients have a higher rate of success getting this information from their employers/agencies, we would therefore like to advise all clients to try to obtain the documentation first before contacting us for assistance.
    Please note that UK Tax Advisory cannot guarantee that outstanding documentation will be received, as employers/agencies are not legally obligated to issue Statements of Earnings. HM Revenue & Customs may have your missing pay and tax details on record. Contact us to find out how to obtain this information
15. What is a P11D?
    Your employer uses a P11D to tell HMRC about the value of any 'benefits in kind' they've given you during the tax year.
    This means benefits or expenses that effectively increase your income, like:
    A company car
    Private medical insurance
    Travel and subsistence
16. Tax Codes and Emergency Tax?
    Your tax code relates to the tax free allowance that has been allocated to you. For the 08/09 tax year the tax code is 603L which means you have a tax free allowance of £6,035.
    If your tax code has any of "X", "M1" or "W1", then your tax is being calculated on your monthly or weekly earnings as opposed to an annual salary basis.
    Another tax code is "BR", this indicates that no tax free allowance has been given to you and the basic rate tax is being charged.
    These are forms of emergency tax which are usually charged if your employer is not sure how much you should be taxed. Tax codes are shown on payslips, P45's and P60's.
17. 
    
18. Do I need a National Insurance Number (NINO)?
    A National Insurance number is a reference number that HM Revenue & Customs uses to record where you have worked and what your earnings have been. You are obligated by law to get a permanent NINO once you start working. Due to increased security at the Inland Revenue, it is now a firm requirement to obtain a NINO in order to for your tax refund to be processed. If you have already left the UK, it is still advisable to apply for a NINO.
    To obtain a National Insurance Number you will need to contact a Job centre Plus in your area. Please call 0141 207 3649 for assistance and to find your closest office.
19. How long does it take to get tax back?
    Once you have provided us with your details and all documentation, UK Tax Advisory will process and submit your claim to HM Revenue and Customs. We aim to finalise your claim within 6 - 8 weeks which allows for the average tax office postal backlog of 6 weeks.Please note that some claims may exceed the expected completion time due to the client not having a permanent National Insurance number, providing incorrect or insufficient information and/or unavoidable delays caused by HM Revenue & Customs. Unfortunately all correspondence with the Inland Revenue is done via telephone and post.
20. What is a self-assessment Tax Return?
    Self-Assessment requires the mandatory submitting of a Tax Return. This is an Inland Revenue issued document, which requires you to declare your earnings and tax paid for a financial year.Please note that, unlike a tax refund claim, a Self Assessment Tax Return is required by law from certain individuals.
21. Who needs to complete a Self Assessment Tax Return?
    If you have more complicated tax affairs than the straight PAYE system you may need to complete a tax return. There are also certain circumstances in which you will always need to complete a tax return - for example if you're self-employed, a company director or a trustee or if you have foreign income.
22. What if I have received benefits from my employer?
    Any benefits received are taxable and you will need to obtain a P11D from your employer for each tax year that you received benefits. This form must be submitted along with your P45s and P60s.If you have received any dividend income, you will need to submit a dividend certificate for the relevant tax year.
23. Can I claim my tax back when I am outside the country?
    Yes you can claim back any tax you may have overpaid, even if you have already left the country.
    So long as you submit a claim through UK Tax Advisory within 5 years of leaving the UK , along with the necessary documents you will still be eligible.
24. 
    

Get a free quotation now by clicking here

Get a free quotation now by clicking here