Author : Paul LombardWhat is a tax refund?
Most people have heard of folks getting tax refunds, otherwise known as a "tax rebate" or "claiming tax back" but what does it mean? A tax refund is a payment made by the HM Revenue & Customs (the new name for the Inland Revenue) to someone who has paid too much tax during a particular tax year Tax years in the UK run from 6th April to the 5thApril, so the 2009/10 tax year started on the 6th April 2009 and will end on the 5th April 2010
An individual is allowed to earn a certain amount each year before they are liable to pay tax This amount increases each year and the figures for the last few years are shown below Tax year personal allowance:
2009/10:
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