You could be missing out on $1000, tax reclaim

If you study, work part time, have recently retired there is a 95% chance you are entitled to tax back from the Inland Revenue. Believe it or not there are presently millions of pounds of unclaimed tax which the government is retaining because people not having made the time or the energy to file a simple tax reclaim.

Everyone who is employed in the UK is given a tax free allowance, this year it is 5235 pounds. A Student for example might only work a short period in their summer holidays, however their employer in all likelihood will deduct tax and proportion their tax free allowance for the whole year. This is where errors occur as the student would not be working for a whole tax year, as a consequence they do not receive a big chunk of their tax free allowance.

TaxFix.co.uk is an organization which has expertise in recovering overpayment of tax from the Inland Revenue. They operate on a ‘No rebate-No fee’ basis so you do not need to pay anything up front. Their most common tax reclaim is over one thousand pounds. They have a website that is very informative with a number of resources such as an income tax calculator to help you work out if you are due a refund as well as a Tax Help Blog which keeps you up to date with finance related news.

Dont you think we all pay enough tax, make sure that you have not over paid any tax. You might also like to know it is free to check for the last 6 years, you have nothing to lose and potentially thousands of pounds to gain!

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