personal finance

Tax refunds: Tomorrow is the deadline and backdated payments could be lost


Tax refunds (or rebates) can be issued automatically by HMRC but claims can also be manually put through. The end of the tax year is tomorrow but fortunately, HMRC can be contacted even on Sundays.

It’s possible many people may not even realise they can claim tax refunds from some of these options.

Fortunately, the government provides a free tool which can help people with claiming for these areas.

The tool starts by asking the user to detail which of the aforementioned elements they feel they’ve paid too much tax on.

The following pages will vary with further questions depending on the initial selection but they will eventually end instructions on which state departments to contact and what specific forms could be needed.

ISA allowances will reset and Junior ISA limits will see drastic change.

From 6 April it will be possible to put up to £9,000 into Junior ISAs, which is more than double the current limit.

National Insurance payments will also reduce and capital gains tax allowances will rise.

The nil-rate inheritance tax band will also increase to £500,000



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