On 14th July 2012, newspapers reported that cabinet ministers have suggested that HM Revenue & Customs overtax people intentionally as a way of making them feel "great".
Their skewed logic is that tax payers would feel a sense of contentment when they successfully reclaim their overpaid tax from HMRC. The big flaw in that view, of course, is that in many cases people don't get their overpayment of income tax refunded to them.
There can be numerous reasons why automatic tax rebates don't happen, very often due to incorrect records about tax payers held at HMRC's end. The most common inaccuracies range from non-documented change of addresses; incorrect employee information from employers; incomplete employment history; open benefit claims that have not been closed down properly... the list goes on!
If you're leaving or have already left the UK you could be due a larger than normal tax rebate, especially if you've not used your entire personal allowance for that tax year. It could mean that you've overpaid significantly more than you think. Talk to one of our expert tax consultants today or fill in one of our online forms.
Our customers are truly thankful when receiving tax rebates for a variety of reasons, from tax relief on expenses, tax rebates when leaving the UK or leaving employment and, of course, for simply paying too much tax in the first place, as current newspaper reports confirm.
When clients instruct us to assist them with sorting out their tax affairs, we liaise directly with HM Revenue & Customs to investigate any possible overpayment of income tax and ensure our clients receive any tax refund due to them. Due to the compexity of the tax system, seeking help from a specialist tax agent like TaxDay can ultimately save you time and money.
If you are stuck with an emergency tax code or have received an incorrect tax coding notice, you are likely to be due a tax refund from HM Revenue & Customs. If you wonder whether you are due a tax rebate, get in contact with the team at TaxDay to get it checked free of charge. You never know, you may find out that you could get some tax back! Our largest tax refund this week was £5,615 from an individual who had claimed back expenses for previous years. We know he “feels great”!