Parents Missing Out On 1500 Tax Refund

Parents Missing Out On 1500 Tax Refund



Parents Missing Out on​ £1500 Tax Refund
Thousands of​ parents have yet to​ benefit from a​ substantial tax credit refund which can be worth over £1500 per family .​
For those with children born between 1985 and 2003 a​ valid claim can still claim made - but time is​ running out.
Parents with children born between 1985 and 2003 may be due a​ substantial tax refund .​
But the​ clock is​ ticking,​ action should be taken now to​ make sure the​ repayment is​ made.
In 2001 the​ Government introduced the​ Children's Tax Credit,​ a​ fore-runner to​ the​ current Child Tax Credit system .​
For the​ following two tax years (2001-2002 and 2002-2003) tax relief for people with children was given as​ a​ tax reduction in​ their tax codes .​
However,​ the​ Revenue did not always know who to​ give the​ money to​ and subsequently thousands of​ families have missed out.
How much is​ it​ worth? in​ each tax year the​ claim is​ worth approximately £520 .​
In addition,​ in​ the​ 02-03 tax year,​ if​ a​ baby was born the​ claim is​ twice the​ annual amount of​ £1049 .​
The maximum refund is​ over £1500 .​
To receive the​ money applicants will have had at​ least one child who lived with them and was under sixteen at​ the​ start of​ the​ 02 or​ 03 tax year.
Just as​ importantly,​ one or​ both parents must have been earning and paying tax in​ the​ tax years in​ question .​
And lastly claims can only be made if​ the​ money has not already been paid out .​
Looking at​ tax codes for the​ 02 and 03 tax year is​ the​ quickest way to​ check; if​ they end in​ an​ 'H' then the​ relief has already been given.
For those that find the​ tax system a​ bit daunting,​ help is​ at​ hand for parents who feel they may have a​ claim and are worried about missing out .​
Refunds Direct,​ a​ tax refund company,​ has developed a​ no win no fee service that completes all the​ tax work,​ as​ Mike Oaten,​ the​ Director in​ charge of​ the​ service,​ explains:

There are so many families affected by this and so much money at​ stake .​
The Revenue are making no efforts to​ hand the​ money back and unless people act now millions and millions of​ pounds are going to​ be stay safely in​ the​ Taxman's pocket .​
I​ am pleased to​ say our service is​ proving to​ be a​ great help,​ we are sending out cheques every day to​ people who would otherwise miss out.




You Might Also Like:




No comments:

Blog Archive

Powered by Blogger.