New Rules for UK Tax Refund - How to Get the Most of it with Sos Taxes
From the 07th September 2008 the basic personal allowance increased from £5,435 to £6,035. Most accountants will not modify the payroll details and the taxpayers are most likely to pay more taxes during the 2008/2009 tax year. So what should they do?
London, UK (PRWEB) October 1, 2008 -- From the 07th September 2008 the basic personal allowance increased from £5,435 to £6,035. Most accountants will not modify the payroll details and the taxpayers are most likely to pay more taxes during the 2008/2009 tax year. So what should they do?
According to Sos Taxes, 97% of foreigners who have been working in the UK can claim a tax refund. Few people think to claim their refund because most of the time they are not aware of the amount of money they can get back. Actually, 1 in 3 people is due an average tax refund of £900.
Everybody has 6 years to claim his refund, after that time it will belong to the UK tax office. By using a UK tax Refund agency located in the UK such as Sos Taxes the taxpayer will be in good hands. The agency will act on his behalf to get back the overpaid taxes.
If someone who used to work in theUK is leaving the country, then he can apply straight away for a refund. If he stays until the 05th April 2009, he will need to wait until that date (end of tax year) to claim his Tax Refund. If he is already in his home country, he can claim his tax refund through a tax agency based in the UK. He can claim his refund for the last 6 years so it may not be too late.
After sending his papers, he will usually need to wait between 4 to 12 weeks to get the refund. Sometimes it can be longer if his case is more complicate. For example if he do not have all the P45's and has to replace them by statements of earnings. The tax office will then check that the details given by his previous employers are correct. Once the refund is issued, the Tax agency will send it as a cheque or by bank transfer.
Sarah Smith
http://www.sos-taxes.com
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