UK Tax Refunds
A tax refund is a repayment of PAYE (Pay As You Earn) tax that you have overpaid to the Inland Revenue during the tax year. If you work less than the full tax year, are under an emergency tax code or leave the country before the tax year ends (April 5th) and don’t intend to return to work again in the UK in the same tax year, you will probably have overpaid tax and will therefore be due a refund.
Dealing with the Inland Revenue can be complicated but 1st Contact Tax can take the hassle out of claiming your tax back after or before returning to Australia. When you leave a position or cross the tax year, make sure you obtain a P45 or P60 respectively to enable you to claim your tax refund. Make photocopies of all these documents in case they get misplaced.
To find out about 1st Contact accounting services visit their accounting website: www.1stcontact-accounting.com