Tax Rebates

Are You Entitled to a Tax Rebate?

Every year, thousands of people are entitled to claim tax back. You could be eligible to claim a significant amount of money and not even realise it. The major reason for this is because many people do not know how to find out if they are entitled to a tax rebate. This article aims to shed light upon that.

Everyone in employment in the UK has to pay income tax and national insurance contributions. These payments are deducted from your wages before you receive them, known as PAYE (Pay As You Earn). However, you only have to start paying tax after you've earned £6475 in a year.  If you've earned less than that, and have still been paying tax, then you may be entitled to a tax rebate.

If you are a student and work while you're studying, you still have to pay income tax and national insurance contributions. However, if you only work during your holidays, the rules are slightly different. You may not have to pay tax through PAYE. Your employer should give you a P38(S) form, which will make sure that you're paying the right amount of income tax. If you have been paying tax through PAYE in your holiday job, you may be able to claim back tax payments.

If you're still unsure what you're entitled to, using a UK tax calculator can help you discover if you are due a tax rebate. You may have undiscovered cash waiting for you.