To claim a tax refund, you will need these four elements below, let’s take a look at what they are and why are they important.
UTR (Unique Taxpayer Reference)
HM Revenue & Customs (HMRC) assigns each taxpayer 10 digit unique taxpayer reference to track their tax records. To submit a Self Assessment form, you must need a UTR. You can register a Self Assessment online and the system will automatically assign the UTR number. You will also be sent your 10 digit UTR number via a letter through the post.
Self Assessment
It is a system HMRC uses to collect income tax, you can apply by sending a form to HMRC via paper or online. Usually you need to register Self Assessment by 5th October following the end of the relevant tax year, otherwise penalties may be occurred.
P60(s)
P60 form shows how much you’ve earned over the previous tax year. It also shows how much you’ve paid for tax and National Insurance (NI). P60 is provided by your employer and you should receive it by 31st May at the latest. If you have more than one job, you will receive the forms from each respective employer.
P11D(s)
It is a form given from your employer showing the related taxable expenses and benefits over the tax year. If applicable to you, then you should receive your P11D by 6th July following the end of the tax year.
P45
When you leave the job, your employer will give you a P45 form. It shows your salary and the taxes you’ve paid up to date within that tax year. If you don’t have a P45, your current employer can’t assign you the correct tax code.
If you need support to file your tax return, please call 01902 939 391 and speak to one of our specialist team members.
