While working in the UK you will pay 22% income tax on earnings above £2231 and 40% on any earnings over £34,600. There are two types of employment status in the UK - PAYE (Pay as You Earn) worker, such as a receptionist or a teacher, and self-employed, such as a construction worker.
If you are PAYE your taxes will be deducted by your employer each month.
If you are self-employed you are responsible for preparing and filing your own tax return.
People working in the UK temporarily such as students or working holiday makers are often put on the wrong tax code and end up paying too much. Many of these people are eligible for a tax rebate – it all depends how much you earned and how much tax you paid. You can use a UK tax return calculator to see how much you are due. If you don’t want to lose your money and leave it for the HMRC you'll need to claim a UK tax rebate.
Preparing an income tax return can be frustrating and confusing. Tax agents can help you file your tax return and get a refund. You can let tax expert check if you are due a tax rebate or you can just use a UK Rebate Calculator. If you decide to choose a tax agent here are some things you should look for:
- The person / company you hire must be very well trained and certified to prepare your taxes
- Make sure the tax agent is experienced in organizing tax refunds in your niche as this will help you increase the tax rebate you will get
- When it comes to taxes – “too good to be true” is almost always correct – be careful when someone promises you too much
- Check the reputation of the tax agent, ask for client testimonials
Letting a tax refund company get your tax rebate will remove most of the frustration and hassle connected to it. Every single application is processed for compliance and any deductions or credits owed before they go to the tax office will ensure your tax refund is returned to you in the quickest time possible.