Leaving the UK forever? Don’t forget about the tax rebate

Leaving the UK forever? Don’t forget about the tax rebate

 

You have what is called an indecisive nature. Simply put, it’s hard for you to make decisions, especially important ones. Deciding to leave the UK for good was no easy thing. At first, you weren’t tempted to leave your home and go start another life. Soon enough, you understood that abroad you’ll have a better life. It’s not that the UK is a bad place. Far from that. It’s just that they don’t need your skills and qualifications here. More and more people leave Britain and, almost all of them, forget about the most important thing: leaving the UK tax refund. You probably thought that the HMRC doesn’t owe you any money, but they do.

Are you entitled to a tax rebate?  

If you haven’t been living under a rock, you know that the UK government offers tax free allowances. These allowances make it possible for you to raise certain amounts of money and not pay tax. From 2017 to 2018, the allowance was approximately £11,000. Taking into consideration that it is divided between salaries each month, you can leave the country without what is rightfully yours. The point is that if you have paid income tax and you are leaving the UK permanently, you need to head by the HMRC’s office.

Claiming a tax rebate when leaving the UK        

What you have to do is download the form P85 and send it over to the competent authorities. By doing so, you’ll be able to get financial relief and start your new life abroad with money in your pocket. Why is it so important to pass by the HMRC’s office? Because if you don’t, you will continue to be taxed.  The question now is if you’re willing to go through the process alone. Filling an application form is not brain surgery, but you’ll have to wait for an answer.

The best thing you can do to speed up the process is hire a company that specializes in such matters. Companies of this kind have established collaborations with the tax authorities, which is the reason why they are able to help. Another thing worth mentioning is that they help you determine who much is owed to you. It’s an option worth considering. So, what are you waiting for?

Don’t forget about the tax rebate

As mentioned earlier, claiming a tax rebate is the last thing on the minds of those who leave to settle abroad. They are more concerned with things like where to stay or to which school to send their kids. Sure, these are all important aspects, but so is claiming your tax back. Reimbursements don’t apply to all people, and if you’re one of the few lucky ones, it would be a shame not to take advantage of this opportunity.  You don’t even have to take care of things yourself. Specialists can act on your behalf. Do you know what? They do a better job than you.  Get in touch with a professional advisor and discuss your situation.

Steve Volk