If you're a resident of the United Kingdom, you're likely aware of the importance of paying your taxes. However, you may also be entitled to a tax rebate if you've overpaid your taxes during the year. Here's how you can use a tax calculator to determine if you're eligible for a rebate and how much you could potentially receive.
Step 1: Determine your eligibility
The first step in using a tax calculator is to determine if you're eligible for a tax rebate. There are several factors that can influence your eligibility, including your income, your expenses, and the number of hours you work. You may be eligible for a rebate if you've overpaid your taxes because you worked less hours than expected, had lower income than expected, or if you incurred expenses related to your job.
Step 2: Gather your information
In order to use a tax calculator, you'll need to have some key information on hand. This includes your taxable income for the year, the number of hours you worked, and any expenses related to your job.
Step 3: Use a tax calculator
Once you've determined your eligibility and gathered all the necessary information, you can use a tax calculator to estimate the amount of your tax rebate. There are many online tax calculators available that you can use for free. Simply enter your information into the calculator and it will calculate your estimated rebate based on your taxable income, the number of hours you worked, and any eligible expenses.
Step 4: Apply for a rebate
If the tax calculator estimates that you're eligible for a rebate, the next step is to apply for it. You can apply for a tax rebate by filling out a P87 form and sending it to HM Revenue and Customs (HMRC) or you can go through our platform here at TaxHelper.
In TaxHelper, we help you find the tax refunds you are entitled to. You just answer simple questions that only take 15 min. to go through.
Afterwards, we report the tax refunds and you get an extra £308 paid out on average. And you only pay if you get a tax refund.
