Chasing new opportunities can mean bidding adieu to the country where you've lived and worked - but that doesn't mean you have to say goodbye to your tax refund. If you are leaving or have left the UK within the last four years, chances are the HMRC has a tax refund with your name on it.
If you paid too much into your taxes during your final tax year or any of the previous four tax years, you may be eligible for a rebate of taxes. The amount you receive from your tax refund depends on your various sources of income - earnings, savings and investments, rental properties, benefits, etc. There are many reasons why an individual might have an unclaimed tax refund:
1. The tax code associated with your income is or was incorrect
2. Allowances weren't claimed during the year the taxpayer left the UK
3. Not all tax allowances were claimed in the year the taxpayer left the UK.
4. A variety of reasons - it's always worth double-checking to see what you're entitled to particularly if you were employed in specific professions
Your first step when leaving the country should be to fill out and submit a leaving the UK P85 form. Depending on circumstances, a P45, P60, or P11d might be necessary as well. These extra forms include important information - amount of taxes paid, work-related benefits or expenses, and employment history. Upon submitting a P85, HMRC will sometimes ask for a self-assessment tax return to be completed before they send out your tax refund. A self-assessment tax return is often for self-employed individuals, or individuals generating income from rental properties or other alternate sources.
Don't let all the paperwork bog you down - if you believe that leaving the UK might result in a tax refund, you can make use of trusted online services such as TaxRebateServices.co.uk, which offer free tools for estimating your UK tax back refund.
If you paid too much into your taxes during your final tax year or any of the previous four tax years, you may be eligible for a rebate of taxes. The amount you receive from your tax refund depends on your various sources of income - earnings, savings and investments, rental properties, benefits, etc. There are many reasons why an individual might have an unclaimed tax refund:
1. The tax code associated with your income is or was incorrect
2. Allowances weren't claimed during the year the taxpayer left the UK
3. Not all tax allowances were claimed in the year the taxpayer left the UK.
4. A variety of reasons - it's always worth double-checking to see what you're entitled to particularly if you were employed in specific professions
Your first step when leaving the country should be to fill out and submit a leaving the UK P85 form. Depending on circumstances, a P45, P60, or P11d might be necessary as well. These extra forms include important information - amount of taxes paid, work-related benefits or expenses, and employment history. Upon submitting a P85, HMRC will sometimes ask for a self-assessment tax return to be completed before they send out your tax refund. A self-assessment tax return is often for self-employed individuals, or individuals generating income from rental properties or other alternate sources.
Don't let all the paperwork bog you down - if you believe that leaving the UK might result in a tax refund, you can make use of trusted online services such as TaxRebateServices.co.uk, which offer free tools for estimating your UK tax back refund.
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If you have lived and worked in the UK, Tax Rebate Services can help you claim any UK tax rebate you are entitled to.
