Are you in the UK on a working holiday visa and making the most of it? Combining traveling while earning money on the side is probably the most enjoyable thing young adults can do. This is especially true in the UK where working holiday makers can make the most of the opportunities on offer. One thing you should remember is that, before you leave the UK, you should claim a tax refund.
Tax Tips To Take Note Of
- You can claim your tax back as soon as you’re finished working. Make sure to file a claim before leaving the UK.
- You will need the form P45 to claim your tax, which will be provided by your employer after you completed your employment. In the event that you lost or you did not receive a P45, you can ask for a statement of earnings from your previous employer. This will be an acceptable as a replacement for a P45 or a P60.
- How much tax you can claim will depend on how much you earned within the tax year. If you earned below the tax free allowance, you are eligible for a full income tax claim. Otherwise, consult with tax experts or use a tax refund calculator to determine how much tax you can claim back.
- You can use a tax agency to claim your tax rebate or you can do it yourself. If you choose to do the latter, you will be required to comply with additional documents and to provide an employment history form.
Whichever route you take, make sure the entire process go smoothly and you get exactly what is due to you.