The HMRC’s admission to over calculating taxes has resulted in tax rebates being due to thousands of UK tax payers.
You may be set for a tax refund, without even knowing it. According the Chartered Institute of Taxation, HM Revenue & Customs has sent the wrong tax codes to a number of people throughout the UK due to a fault within their IT systems.
Expert tax, financial and migration group, 1st Contact, one of the largest and experienced tax agents in the UK, have called on those who have worked in the UK for any period of time to verify if they are due a tax refund.
The HMRC database reportedly lost information it held concerning tax-payers who had left their jobs. As a result it combined current employment records with old data, concluding that those currently holding one job are actually earning in the region of two incomes. The result: many tax payers have been incorrectly placed in higher earning brackets and have paid more tax than they ever should have.
1st Contact currently operates a tax refund calculator which ensures tax payers know the amount owed to them in the form of tax refund.
The HMRC database reportedly lost information it held concerning tax-payers who had left their jobs.
John Dunn, Tax Refunds manager at 1st Contact, stresses the massive importance of checking if one is eligible for a tax refund, since numerous tax payers are unaware of the fact that they are being overcharged and have earned the right to a fair tax rebate.
“We will make sure the codes used were correct and if not we will apply for the maximum refund due to each person who approaches us for assistance”, says Dunn.
Dunn explains that it is advisable for individuals to check their tax codes. “Look on a ‘PAYE Coding Notice’ if you have one – this notice tells you what your tax code is and is usually sent out in January or February each year. If you find out you are listed under the wrong code and due for one of the numerous tax refunds to which you are eligible, contact your tax office straight away.”
Using 1st Contact’s online Tax Refund calculator , coupled with the company’s experience and accreditations with numerous UK accounting bodies, 1st Contact is playing an essential role in ensuring that thousands of tax refunds are paid back to eligible candidates.
Dunn says “We will continue to ensure that the public are made aware of their rights and eligibility to access their tax rebates”.
For more information on how to claim your tax refund visit http://www.1stcontact-taxrefunds.com