Pay As You Earn (PAYE)
What is PAYE?
For most UK workers, the Pay As You Earn (PAYE) scheme is how they pay the tax they owe on their income. HMRC gives you a tax code, which your employer uses to work out how much tax to take from your pay. They then send that money to HMRC before paying the rest to you. In most cases, you don’t have to do anything about it yourself. However, it’s worth keeping tabs on how much tax is coming out of your pay. It’s possible for your tax code to be wrong, or for you to be owed a refund on some of your work expenses.
Can PAYE workers be entitled to a tax rebate?
Many PAYE workers are missing out on possible tax rebates, there are many reasons why they could be owed tax. This could be from either having the wrong tax code & HMRC taking too much tax or as in many jobs you will often be asked to travel to work at other temporary work places or for training, in those cases then you could be due money back for travel, food or even accommodation costs.
The tax year runs each year from 6th April to the 5th April the following year, so make sure your employment is within these dates for the work you believe you were overtaxed on.
The great thing is you can claim back for the past 4 tax years so if you have not done so before then could be due a good amount back. Please speak to one our tax experts here at Rebate My Tax to find out more information and we can get your claim going as quickly as possible.
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