2009/09/01

What a tax refund?

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Most people have heard of people get tax refunds, otherwise known as a "tax rebate" or "claiming the tax rebate" but what does that mean? A tax refund is a payment made by the HM Revenue & Customs (the new name for the Inland Revenue) to someone who paid too much tax during a given tax year. Tax years to the approach of the United Kingdom from April 6 to 5thApril, and the 2009/10 fiscal year began April 6, 2009 and ending April 5, 2010. . An individual is allowed to earn a certain amount each year before they are likely to pay taxes. This amount increases each year and the figures for recent years are presented below. Tax deduction for individuals age 2009/10:

Tags: individuals age, inland revenue, refund, tax rebate.

Filed under Tax Refunds by taxrefunds on Sep 1st, 2009. #

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