Everything you need to know about taxdoctor
- What is a tax refund?
- Why might I be due a tax refund?
- I thought students were exempt from tax?
- How much will I get back?
- When will I get my money?
- How does the TaxDoctor.co.uk service work?
- Are there lots of forms to fill in?
- How far back can I claim?
- What information do I need to give you?
- What are a P60 & a P45?
- Do I tell you about all jobs?
- What if I'm leaving the country?
- Why should I use you?
- What do you charge?
- Do I need to complete a tax return?
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What is a tax refund?
'Tax-back', or a 'tax refund', is a payment made by the Inland Revenue to a person who has paid too much tax.
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Why might I be due a tax refund?
If you have only been working part time or during the summer months you have probably not used all your allowances. You may have had tax wrongly deducted by your employer. You might also have been on the wrong tax code.
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I thought students were exempt from tax?
Just because you're a student doesn't mean you don't pay tax. You're taxed under the same rules as everybody else. What often happens though is that you end up paying too much tax and that's where we come in.
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How much will I get back?
It depends on two things: how much you earned and how much tax you paid. Use our taxdoctor calculator to get an idea of what you could get back. In previous years our average student claim has been around £300, but every case is different.
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When will I get my money?
After we have done our bit, it's down to the Inland Revenue. The average turnaround for student claims in previous years has been between 6 and 8 weeks. We're in constant contact with them to make sure they're processing your claim. We'll also keep you updated throughout the whole process.
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How does the TaxDoctor.co.uk service work?
We basically take the entire hassle away. We deal with the Inland Revenue on your behalf, ensuring that you are receiving all your allowances and that you are getting the maximum refund possible. For more details of the process, click here.
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Are there lots of forms to fill in?
NO! We've worked hard at our process to ensure you don'thave to.
We only need your signature on two letters that allow us to deal with the Inland Revenue on your behalf and your bank paying-in details so we know where to pay in your refund, and that's it.
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How far back can I claim?
It is possible for us to make claims on your behalf for the previous SIX tax years. We just need documents relating to each employment or if you don't have these then your old employer's names and addresses and we'll go about obtaining copies.
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What information do I need to give you?
To start with all we need are your personal details such as name, address, NI number and details of your employment for the year in question. These are given via our "sign up" section available on every page of the site.
The Inland Revenue also require us to give them proof of your pay and tax deducted from each employer.
This usually comes as either a form P60 or a form P45. If you don't have these forms it doesn't really matter, your claim will take longer. We'd need to write to your employers to obtain copies, which will take time and there's no guarantee they'll reply!
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What are a P60 & a P45?
They're both official forms given to you by your boss. A P60 is an end of year summary. You usually receive this around April or May time. If not you can request a copy all employers are legally bound to give you one.
If however you left your job during the last tax year then you would have been given a different form, a P45. This will have the same sort of information on it. It will tell us what you earned in that job up until you left.
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Do I tell you about all jobs?
Yes! Definitely! We need to build up a picture of all the work you did for the years in question. Even if you didn't earn very much or paid no tax at all. If we don't have all the info it will stall your claim and the Taxman may refuse to pay.
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What if I'm leaving the country?
If your time in the country has come to an end and you're returning to your homeland or emigrating for good then we need a bit more information. Please make us aware of this in the sign up process. You will need to sign another form that we can send you. Don't worry we'll fill it in for you. We may need to ask you some more questions though!
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Why should I use you?
Here at taxdoctor.co.uk we have many years' experience in the world of taxation, and we are the UK's only tax refund service dedicated to students.
We deal with the Inland Revenue on your behalf, ensuring that you are receiving all your allowances and that you are getting the maximum refund possible. We take the hassle and stress out of dealing with the tax people and their long, intricate forms you have to get right. This leaves you to get on with the much more exciting parts of student life!
More reasons to use us
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What do you charge?
taxdoctor never physically collects any money from you. We charge a low commission rate (only 7.5% if you've got all your P45s and P60s and 10% if you haven't) and pay the net amount direct into your bank account. We operate on a "no win-no fee" basis. So if we discover you're not due a refund, we won't charge you a penny. Plus we don't build a minimum charge into our pricing, so there are no surprises.
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Do I need to complete a tax return?
More than likely NO. In exceptional circumstances, i.e. if you had any other income during the year (say you let a house out or sold some property) you might, but 99.9% of you won't need to worry.
If you think this may apply to you just let us know and we'll sort it out for you.
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