In the modern age, there’s so many ways to work. Having a job is not as simple as is used to be, and therefore it also makes taxing more complex. As a result, you may end up overpaying tax, meaning that you may be owed money from HMRC. Whether you’re a ‘mumpreneur’ or have a number of employed roles, there are many reasons that you may be able to apply for a tax refund.
If you’re wondering how to apply for a tax refund in the UK, whether for PAYE or self-employment, it can be perplexing, especially with all the different tax codes that can be used. There are a number of ways you may be able to apply for a tax refund online, including work travel, sustenance and more. To help you see clearer through the labyrinth of applying for a tax refund, it’s worth going through tax refund companies instead of going it alone.
To apply for a tax refund, the system you use will mainly be PAYE or CIS, depending on how you initially paid your taxes. You’ll need to complete different bits of government paperwork in order to process your application for a tax refund, and this also needs to be done at the right time, within four years from the end of the tax year.
Going through tax refund companies can make the process of applying for a tax refund much easier. All you need to do is link your bank account, upload your P60 for employment, or upload invoices for self-employment, and complete any relevant expenses. Tax refund companies then can use this information to calculate what you could be owed back, and in turn apply your tax refund on your behalf.