UK taxpayers warned to apply for tax back before deadlines - TaxBackAgents

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As the deadlines to claim tax back for three separate tax years loom closer, TaxBackAgents are advising UK taxpayers to begin assembling their tax back applications, or risk missing out on potentially hundreds of pounds in the form of a tax refund that they could be owed by the government.

Tax back

It is likely that approximately half the UK's working population is owed tax back.

As there are some important deadlines coming up this year for PAYE workers, TaxBackAgents are eager to ensure as many people as possible are aware they could be missing out on the money they're owed.

It's easy to get confused when it comes to finances, especially when it comes to paying taxes and how the amounts are calculated. Changing jobs, student loans, having children and changes in the law can all have an effect on how much tax is owed.

With so many considerations to factor in, plenty of people are unsure of why they owe so much. However, what many people aren’t aware of is that they could have paid too much tax at some point in their careers.

TaxBackAgents have years of experience of helping people claim back overpaid tax and offer a quick and easy tax back service which can help taxpayers find out exactly how much tax is owed and secure a repayment.

For people working under the Pay As You Earn (PAYE) system, the only restriction on claiming a tax refund is lodging a claim before the tax deadline, and there are several coming up.

It’s possible to claim back as much as five years’ worth of overpaid tax under the PAYE system but there are three deadlines in 2012 which, if missed, will mean that any tax owed will be lost forever.

The time limit for claiming back any tax owed from 2005-2006 is 31st January 2012, the deadline for 2006-2007 is 31st March 2012 and the deadline for claiming a tax rebate from 2007-2008 is 5th April 2012.

Nigel Smith, claims manager at TaxBackAgents said, "We've helped thousands of people claim back any tax they might have overpaid and, as there are some important deadlines coming up this year for PAYE workers, TaxBackAgents are eager to ensure as many people as possible are aware they could be missing out on the money they're owed."

Any money received as a result of a successful tax claim can then be repaid either directly into a bank account or as a cheque.

"Probably half the working population has overpaid tax in the past without realising it," said Nigel Smith. "Without being refunded, so many people will be donating their hard earned money to the Government and will never be able to get it back."

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Tom Blackett
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