How to get back your UK taxes
Self-employed individuals can get back their UK taxes with the declaration of income and expenses related to the activity undertaken (Tax Return – Self Assesment). This statement is completed and submitted once, at the end of each financial year (in this case we are talking about April 6, 2019-April 5, 2020), whether or not you worked during that period. The key in the correct calculation of the tax refund is the declaration and the application of the complete expenses related to the professional activity.
One in five people who pay tax in the UK are entitled to a tax refund. If you are a PAYE employee, you may be entitled to claim a tax rebate. The average UK PAYE Tax Refund is £1200, but, from case to case, we could have obtained even much more for our clients.
Claim your UK tax refund
Most workers in the UK pay income tax through the PAYE (Pay As You Earn) system. Your employer uses this method to withhold income tax and national insurance contributions from your wages which are paid directly to HMRC (HM Revenue & Customs). Your tax code is issued by HMRC and is used by your employer to figure out how much income tax you should pay. This tax code changes every year and you may be paying the incorrect amount of tax if you’re on the wrong tax code. Also, you may be able to claim a rebate if you’ve paid too much. You’ll find the code on your payslips. We make sure you get back the maximum of your tax refund and keep you on the safe side with HMRC.
Annual income statement for CIS and Self employment
The CIS form of employment assumes that you have your own subcontractor business in the UK construction industry. At the end of the fiscal year (in the UK, the fiscal year lasts until April 5th) you are required to submit an annual income tax return to the HM Revenue & Customs tax office. If you do not submit this statement, you will be penalized with a fine of up to £1000. And if you do not pay the fine, penalties will be added year by year (sometimes calculated every day of delay) until you pay everything.
How do you get paid back?
The money from your UK tax refund will be paid to a UK bank account so if you have opened one, just keep it open. This will help you get your tax refunds straight to your bank account. This is also the way we work with our clients as well – all of them receive the refunds directly to their bank accounts.
However, if you have closed your UK bank accounts then you can arrange for a friend or family member to have your refund paid to their bank. HMRC can also issue you a pay-check, though you may want to check with your bank whether you will be able to cash it.
You may be entitled to claim your taxes back if:
- You are a non-UK national
- You have left the UK
- You were short-term employed in the UK
- You incurred work-related expenses
- You didn’t work a full tax year
- You were made redundant
- You were on an emergency tax code
About EuroWin Solution
EuroWin Solutions is a well-established, modern organization based in the city of London. We offer Professional Accounting Services , Tax Advice and Expert Immigration Services.
We guarantee to get you the biggest Tax Refund, in the fastest time possible and always in accordance with HMRC guidelines. Our expert tax agents work with thousands of construction workers every year, and we are ready to help you too.
For us every client is important, which is proven by our high customer satisfaction. We guarantee to deliver a high-quality service from a team of dedicated personnel who are professionally competent. Our fees are calculated on a fixed fee basis, so you know up front how much it will be, for the services you require. We work closely with our clients to ensure they receive expert guidance through the complex world of accounting and immigration.
Why our clients trust us
• we have qualified accountants and tax agents
• we have the fairest price
• quick turn around
• personalized expert advice
• maximum refund guaranteed