A tax refund is a refund of tax which has been overpaid by a taxpayer. There are a number of reasons why tax may have been overpaid. A tax refund is a reimbursement to a taxpayer of any excess amount paid to HMRC or Her Majesty Revenue & Customs. Taxpayers tend to look at a refund as a bonus but it most often represents an interest-free loan that the taxpayer made to the government.
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Married couples who live together and have no children can claim a £1,250 marriage allowance from HMRC. But what if things don’t go to plan? What if your partner becomes incapacitated, dies or the relationship breaks down? If you’re unlucky enough to be in this situation, it’s important that you are aware of what your options are with regards to claiming a married couples allowance refund. If you fall out of love with your spouse but stay living together for financial reasons, then it won’t count as an official ‘marriage’ for tax purposes. This means that you will not be able to claim the married couples allowance or any other marriage-related benefits such as universal child care vouchers or marriage relief on your home.
The married couples allowance is a great tax break that allows you to transfer £1,250 of your unused tax-free personal allowance to your spouse. If your marriage breaks down, your spouse will lose out on the married couples allowance. To make up for this, you will be allowed to claim a higher standard tax deduction. If your new spouse earns less than you, you will be allowed to claim the higher basic tax deduction. If your marriage ends before the end of the tax year and you are allowed to claim a married couples allowance refund, you will have to prove that the marriage has broken down. If your marriage ends during the tax year, you will be able to claim the married couples allowance for the remainder of the tax year.
Did you pay taxes on your compensation claim payout?
Compensation claim payouts are made up of the compensation and an 8% statutory interest on the compensation (paid in recognition that you were deprived of your money for a period of time). Compensation payouts must be received by claimants in full.
If there was a tax deduction from your successful claim payout, you are entitled to claim for a tax refund.
If you own a property in the UK, then you are required to pay council tax annually.
Council Tax, introduced in 1993, is tax on domestic property. Each property is assessed based on its property value and assigned to one of eight bands--this assignment called “Valuation Band”. Property owners pay council tax that their valuation band requires annually. There are factors, however, for property owners that can make them eligible for a discount.
If you’re a property owner, Ingram Toft can assist you in having your council tax payments reviewed by your local council, in determining if your property is in the correct valuation band and if you are eligible for a discount based on your domestic situation. A council tax refund will also cover all periods of your tax overpayment starting from 1993 when the Council Tax started.
If you are married or in a civil partnership and one of you is a basic taxpayer while the other is a non-taxpayer, the basic taxpayer is entitled to a marriage allowance.
A Marriage Allowance is a tax perk that allows the basic taxpayer to transfer £1,250 of their personal allowance (the amount they can earn tax-free each tax year) to their spouse or civil partner who is a non-taxpayer.
If you fulfill the requirements for receiving marriage allowance and have not been receiving it, Ingram Toft can assist you in filing a claim and backdating your claim by up to four tax years, if needed.
If you have a work-from-home set-up either for all or part of the week, Ingram Toft can assist you in claiming tax relief.
You may be able to claim tax relief for additional household costs such as heating, metered water bills and broadband connection, among others. You are also eligible if you have to work from home due to COVID-19.
You are not entitled to tax relief, however, if you are working from home voluntarily or claim tax relief for costs that would stay the same if you were working from your office such as rent, mortgage interest or council tax.
A uniform is not clothing of a similar design or colour that one must wear for work (for example, a bank who wants to promote its corporate image by requiring all counter staff to wear a shirt or blouse in their corporate colours). Taxpayer can claim tax relief if they wash the uniform given to them by their employer, unless their employer provides a laundering service and they choose not to use it and wash their uniform themselves. Taxpayer cannot claim tax relief for everyday clothing, even if they wear it for work.
Did you know you can claim tax relief on pension withdrawals?
If you are a taxpayer withdrawing money from your pension pot, 25% of your withdrawal amount must be tax-free.
Ingram Toft can help you claim tax relief on the money that you have taken out of your pension pot.
Does your work require you to be part of a union? Or do you need professional registration in order to perform your job?
If so, you are most likely paying union or professional fees therefore making you eligible for tax relief.
Ingram Toft provides assistance to workers/professionals in claiming tax rebate for required subscriptions or memberships.
Do you use your own vehicle to do your job?
If you are a taxpayer using your own vehicle (car/van/motorcycle/bicycle) for work, you may be able to claim tax relief on the approved mileage rate. This covers the expense of owning and running your vehicle.
Ingram Toft can help you claim mileage tax refund for utilizing your vehicle for work purposes.
*The mileage tax refund does not apply to the usage of your own vehicle to travel to and from your work, unless it is a temporary place of work.
It is a typical occurrence for taxpayers to have overpaid their taxes for a number of reasons such as:
Ingram Toft will do the work for you in determining if and where you have overpaid your taxes and in claiming them back from HMRC.
• INGRAM TOFT will take 25% + VAT* (at the prevailing rate) of the amount that you receive, whether this is paid to you or off your agreement.
• No win, no fee basis. If we do not recover anything for you, you do not have to pay us!
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INGRAM TOFT will charge 25% + VAT* (at the prevailing rate) of the amount that you receive, whether this is paid to you or off your agreement.
You have the right to cancel the Agreement within 14 days with no penalty. If you cancel it after the 14-day period, then we reserve the right to charge reasonable costs of work done up until the time of cancellation.
Please note that you may make a claim directly to your lender and/or the Financial Ombudsman Service without using the services of our firm or incurring any fees.
Please note that some of the services offered by Ingram Toft are not Regulated Claims Management Services and as such are not regulated by the Financial Conduct Authority and do not benefit from FCA Protections. Click the Link Here for a list of those services
Ingram Toft is a trading name of LS Claims Ltd which is Regulated by the Financial Conduct Authority in respect of Regulated Claims Management activities (FCA no: 831386). Registered Office: 13th Floor Piccadilly Plaza, Manchester, M1 4BT. Vat No: 287011704, ICO Registration Number Registration Reference: ZA096389
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