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Tax Refunds

When you work for an employer on PAYE (Pay As You Earn) basis it is very important to understand your income Tax deductions and Tax Codes. You can overpay Tax for the following reasons: working for a few employers at the same time, not working for the whole Tax Year, not submitting P45 form from your previous employer to your new employer.
To find out if you have overpaid Tax for the Tax Year (Tax Year starts on 6th April and ends on 5th April) you will need the following documents:

- P45 form for every employer you left during the Tax Year

- P60 form for every employer you worked when the Tax Year ended on 5th April


All Tax Refunds can be claimed only after the end of the Tax Year, which is after 5th April.

You can claim Tax Refund for up to the last 5 Tax Years.

You can claim Tax Refund for the running Tax Year and not wait until the end of the Tax Year only if you are leaving UK and not planning to work in UK or receive any income from UK until the end of the Tax Year. You can claim all paid tax amount if your total earned income until leaving date is less than tax free allowance amount for that Tax Year.

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Benefits

State Pension

Child Benefit

Housing Benefit

Maternity Allowance

Pension Credit

Carer’s Allowance

Personal Independence Payment

Child and Working Tax credit

Jobseekers Allowance

Attendance Allowance

Council Housing Applications

Universal Credit

Self-Employment

If you start working for yourself, selling goods or services you are classed as Self–Employed.

You’re self-employed if you:

- run your business for yourself and take responsibility for its success or failure

- have several customers at the same time

- can decide how, where and when you do your work

- can hire other people at your own expense to help you or to do the work for you

- provide the main items of equipment to do your work

- are responsible for finishing any unsatisfactory work in your own time

- charge an agreed fixed price for your work

- sell goods or services to make a profit

Things you must do if you start working for yourself:

- register as Self-Employed with HM Revenue & Customs (HMRC)

- keep records and documents of your business income and expenses

- submit Self-Assessment (Tax Return) and pay or claim Tax to HM Revenue and Customs for every Tax Year

- register with HMRC for the Construction Industry Scheme (CIS) if you are working in the construction industry as a sub-contractor or contractor.

Important dates for Self-Employed

Tax Years starts on 6th April and finishes next year on 5th April.

Self-Assessment (Tax Return) must be submitted and if any income tax is due must be paid to HMRC no later than 31st January next year after the end of the Tax Year.

Example

For Tax Year which starts on 6th April 2015 and ends on 5th April 2016, Tax Return must be submitted and tax must be paid to HMRC by 31st January 2017.

Companies

Companies formation

Bookkeeping

Payroll (RTI)

VAT returns

Annual Returns to Companies House

Annual Accounts to Companies House

Annual Companies’ Tax Returns to HM Revenue and Customs

Translations

Euro Contacts GB Ltd can translate in writing all types of documents. We can translate from and to Lithuanian, English and Russian languages. Translated documents (English- Lithuanian) are recognized by Embassy of the Republic of Lithuania in London. All translated documents can be verified by a UK solicitor if required.

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