If you’ve paid too much tax in previous years and never claimed a refund, you may still be eligible to get that money back from HMRC. Many people are unaware that they can claim a tax refund for up to four tax years after the overpayment. So, if you’ve been overpaying on your taxes, it’s not too late to reclaim what’s rightfully yours.
How Far Back Can You Go?
HMRC allows taxpayers to claim a refund for overpaid tax going back as far as four years. For example, if it’s the 2023-24 tax year, you could potentially claim a refund for overpayments as far back as the 2019-20 tax year. This is great news for those who have missed out on claiming work-related expenses or other tax deductions in the past.
What Can You Claim a Tax Refund For?
There are many reasons why you might be owed a refund from previous years. Here are some common scenarios where you may have overpaid tax:
Work-Related Expenses: If you’ve paid out of pocket for job-related costs like uniforms, travel to temporary work locations, or professional fees, you may be eligible to claim these expenses as a deduction and get a refund.
Incorrect Tax Code: If HMRC used the wrong tax code for you, you may have paid more tax than necessary.
Self-Employment Deductions: If you are self-employed and didn’t claim all your allowable business expenses, you could be missing out on a significant refund.
To see if you're eligible to claim a tax refund for previous years, try using our tax refund calculator. It’s quick, easy, and will give you an instant estimate of how much you could be owed.
How Do I Make a Claim?
If you find that you’re eligible for a refund from a previous tax year, the next step is to submit a claim to HMRC. You’ll need to provide details of your income, tax paid, and the expenses you’re claiming for. HMRC will review your claim and, if approved, issue your refund. But don’t worry—we’re here to help!
At Ultra Tax Ltd, we can handle the entire process for you. From calculating what you’re owed to submitting the paperwork to HMRC, our team will ensure everything is handled smoothly. Just use our tax refund calculator to get started, and we’ll guide you through the rest.
Don’t Leave Money on the Table
If you’ve been paying too much tax in previous years, now is the time to act. Don’t miss out on reclaiming the money you’re entitled to. Whether it’s work-related expenses, incorrect tax codes, or missed deductions, we can help you get back what’s rightfully yours.
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