TAX REFUND

If you overpay tax under PAYE or Self Assessment, you can make a claim for a refund.

There are a number of reasons why tax may have been overpaid, including:

  • are employed and had too much tax taken from your pay
  • have stopped work
  • sent a tax return and paid too much tax
  • have paid too much tax on pension payments
  • bought a life annuity

The time limit for claiming a tax refund is four years from the end of the tax year for which you overpaid tax. A tax year runs from 6 April one year to 5 April the following year.

HMRC must pay interest on a tax refund if the repayment is made after 31 January following the end of the tax year in which you overpaid the tax.

If you think you might be entitled to a refund, contact the Right Choice Bookkeeping Services and we will make sure that you don’t lose the right to claim.

January 2021
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