Is it easy to get my tax refunds myself?
I was paying 30% tax for a few months and have now sorted out my tax numbers and stuff and am down to the normal 20%. Would i be able to get the money im owed myself or do i just pay an accountant to do it for me? (expensive or no?) Cheers in advance Im self employed by the way (should have added that in, sorry)
United Kingdom - 6 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Your next payslip should sort it out. otherwise it's dead easy to get a tax refund. just fill in (last year's)? tax return
Answer 2 :
I've had the same problem myself a few times. They will eventually sort it out themselves, but this will usually be after the end of the tax year. If it is a large amount they sent you a cheque in the post, or for smaller amounts they give you a new tax code so you pay less tax next year. You can go down to your local tax office and ask them, but as tax is worked out on a yearly basis you would normally have to wait till April to get any money from them
Answer 3 :
If you're employed ask your employer to sort it out. Alternatively, or if you're self employed just ring your local tax office. There's really no need to pay an accountant to do this.
Answer 4 :
It depends if you are employed or self-employed, and you don't tell us which. If employed, you don't need an accountant. Contact tax office and ask what information is needed. I can't be more specific without further information. If you are self-employed, you won't get any refund until HMRC receive your Tax Return. Depending on complexity, you may need an accountant for that. An accountant would probably save you more money than he would cost.
Answer 5 :
If you are due a refund, there are 2 ways of claiming your tax back: (1) You can claim the tax back by contacting your local tax office, providing a P91 form, as well as your P60/P45s and P85/P86 if applicable. (2) Alternatively you can use an agency to help you. An agency such as: http://www.taxfix.co.uk they charge a fee once they have obtained a refund. Both have advantages and disadvantages. Just make sure that you get all the tax that you are due back and do not let the government keep it.
Answer 6 :
The answer to this depends on how complicated your tax affairs are. The route to a potential tax refund also depends on whether you are taxed under PAYE or Self Assessment or both. An accountant can certainly help and might also be able to make other tax savings for you. However if you want to get a refund yourself you can contact HM Revenue and Customs directly. Their contact details will be on your latest tax return or can be found at www.hmrc.gov.uk. Disclaimer: The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please go to http://www.unbiased.co.uk
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