Tax rebate advice
Times being as tight as they are it’s a good juncture at which to look at tax rebate advice. We kind of take tax for granted and, while admirably philosophical, it may mean you’re not getting all the tax breaks you’re entitled too. The Inland Revenue does get tax codes wrong on a substantial minority of occasions. So if you’re looking for an inland revenue tax rebate, it’s as good a time as any.
Nine out of then families with children are entitled to tax credits of some sort, including the child tax credit rebate. A substantial minority again don’t claim what they are entitled to. Many of us assume we’re earning to much to claim. Don’t assume! This isn’t charity, it’s money from the Exchequer that you have paid and you are entitled to reclaim as reductions in your tax payments. Go to the HM Revenue and Customs site for more.
I think it was Tony Benn who said his heart lifted every time he filled in this tax return, but most of us aren’t as ascetically selfless as the former Viscount Stansgate and we like to pay as little of the stuff as possible. Call it tax aversion. (Note that we’re talking tax avoidance not evasion). You’ll find some excellent tax rebate inland revenue advice online from the Citizens Advice Bureau. They can tell you how to work out if you’re entitled to an Inland Revenue tax rebate, what the time limits are on claiming, and so on.
For more on tax efficient personal finance management, read the following posts: Start a Pension, How do ISAs work and especially Pay less tax.