How To Claim A PAYE Tax Refund - Britbound Taxback

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How To Claim A PAYE Tax Refund

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Feeling out of pocket despite working every hour that
God sends? Well then, you may want to check your payslip carefully
as you may well be overpaying PAYE through being on an
emergency tax code
.

If you think you’re owed a
PAYE tax refund
there there are a few things to consider before
applying as well as a few things you might like to know about PAYE
tax refunds.

Claim A PAYE Tax Refund

You may be eligible for a PAYE tax refund if too
much tax was docked from your pay. Also, how you claim your tax
refund also depends on which tax year you overpaid PAYE. The tax
year runs each year from 6th April to the 5th April the following
year, so make sure you employment is within these dates for the
work you believe you were overtaxed on.

The great thing about applying for overpaid tax
back is that you can back tax refund claims as far back as the
2012-2013 tax year.

2016 – 2017 Tax Year

The next tax year ahead of us is 2016-2017 tax
year, so you will need to make sure you have been sent the correct
tax code by HMRC. If you have a corrected taxed code and you are
due a tax rebate, then your employer will provide a refund in your
pay.

2015-2016 Tax Year

If you’ve paid too much tax for the current tax
year of 2015-2016, HMRC will post you a P800 tax
calculation.

How to claim your tax refund

Your P800 may state that you can claim your tax
refund online, and if it does then do so that way. However,
sometimes you may be sent a cheque if you’re owed for more than one
tax year, so happy days if that arrives and you can bank
it!

How to Claim Your PAYE Tax Refund
Online

To
claim your PAYE tax refund online
you’ll need your employers
PAYE reference number which can be found on your P60, as well as
any details on taxable benefits and income you received.

Similarly, you can use the services of a tax
agent to claim your PAYE tax refund back, meaning you don’t have to
do all the hard work and can wait to receive the money in the
bank.

Using a Tax agent to claim your PAYE tax refund
is a very quick and simple way to get back the money you’re owed,
and you only need to provide a few bits of information such as your
National Insurance Number, details of your employment as well as a
P45 if you have one.

For
more information on claiming your PAYE tax refund back click
here



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