For contractors, employees who worked for an employer for less than 12 months, maybe entitled to a PAYE tax rebate from HMRC.
You can claim a tax rebate in the following cases:
• If you are employed and too much tax has been cut from your pay
• If you were made redundant and you have overpaid tax
• If you have sent tax return and paid too much tax
• If you have more than one occupational pension and your tax-free allowances have not been distributed properly causing you to pay too much tax
• If you have overpaid tax on income from which you have bought a life annuity
• If you have low income and have paid on savings interest
For claiming such tax rebates, you can contact HM Revenue & Customs (HMRC) and explain what you have overpaid. You will need a National Insurance number, details of the previous jobs and state benefits you have got during that time, bank details and P45.
Even after sending the required information, HMRC may contact you to ask for more details. And, they will finally send your refund by cheque which may take 5 weeks or more depending on the case.
If you have made an online claim, you should wait for 5 weeks before contacting HMRC. However, if you have made postal claim, you should wait for 6 weeks.
The time limit to claim a tax refund is four years from the end of the tax year from which you have paid too much tax. A tax year usually runs from 6 April one year to 5 April the following year.
Contact us to discuss further details on accountancy@ipiassociates.com
We will require the following:
- Identification details
- Proof of address
- National Insurance Number
- P60, P45
- Letters if any from HMRC
- Unique Tax Payer reference number (UTR)