Do low salary earners usually get tax rebates?

Asked by Nicky

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Answered by Darren Smith, IFA in Basingstoke, HAMPSHIRE
The answer here is that anyone can get a tax rebate as a rebate simply infers that you have somehow overpaid.

if your income - salary, savings interest, share dividends, rental income (basically all forms of income) falls below your personal allowance of £6475 this year rising to £7475 from 6-4-11 you wont get a rebate as you shouldnt have tax deducted. if you fit into the above category you should be able to claim gross interest on your savings but share dividends are the anomaly as you cannot reclaim the tax on them as this was removed by Gordon Brown when he was chancellor in 1999.

i hope this has answered your question, if there are further points, feel free to post more or email me... | 01.04.11 @ 18:53
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$commenter.renderDisplayableName() — {comment} | 11.20.17 @ 17:08
Answered by John Stirling, IFA in Saffron Walden, ESSEX
It will depend on your personal tax situation, you can earn up to the individual personal allowance each year (which varies depending on your age), and if you have tax deducted at source which can be reclaimed, then provided you make a reclaim you may be eligible to get that tax back.

It is not often an automated process, and will generally require completion of a tax return, although if you are employed it may be dealt with within the PAYE system, and be processed as a rebate that way. | 01.04.11 @ 18:53
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$commenter.renderDisplayableName() — {comment} | 11.20.17 @ 17:08
Answered by D C, IFA in Bristol, DEVON
If you are a low earner you may be entitled to state benefits or tax credits, depending upon your personal situation, so do make sure you are not missing out.

As a first step, follow this link to a government website. You can fill it in anonymously:

http://www.direct.gov.uk/en/Diol1/DoItOnline/DoItOnlineByCategory/DG_172666 | 01.04.11 @ 21:52
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$commenter.renderDisplayableName() — {comment} | 11.20.17 @ 17:08
Answered by Paul Ross DipPFS CII(MP&ER), IFA in Bourne, LINCOLNSHIRE
If you have savings in the bank, then you can claim back the interest paid as all ("non ISA") accounts are taxed at 20% unless you complete an R85 form, which you can find on the internet or via your building society. Obviously, it all depends on your earnings.

As mentioned previously about benefits, you can go to www.entitledto.co.uk to check if you are entitled to any benefits | 01.05.11 @ 17:19
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$commenter.renderDisplayableName() — {comment} | 11.20.17 @ 17:08
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Answered by

Darren Smith
Darren Smith, IFA in Basingstoke, HAMPSHIRE

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