The majority of citizens in the United kingdom have to pay taxes, money destined to the improvement of the public sector, more necessarily of the systems of education and health, streets, roads, parks, squares and so on.
HM Revenue and Customs is the British agency that, not only prescribed the sector of taxes in the Country, makes responsible for determining who must pay a percentage of their income to the government.
Basically, a citizen with less than 65 years and annual income of up to 6.475 pounds does not need to pay taxes, while the ones that receive more than this amount must pay 20% of its profits to the British government - the 34,800 pounds per year.
There are however other variations, people with some type of deficiency and over 65 years of age, for which the regulatory agency offers more information on their website (www.hmrc.gov.uk).
How I can know my annual profits?
By calculating two official documents, which all citizens in the UK have the right to the National Insurance Number.
The first one is the P60 which should be received every April, which carry all information from the fiscal year. Starting from the 6th of April until the 5th of April next year.
The second one is the P45, which should be received from the employer when a contract of employment ends.
Therefore, to calculate your annual profits, it’s necessary to have the 2 documents the P60 and P45.
Which are the taxes that can be received in return?
They are the ones that, by some reason, had been charged wrongly, or in excess. E, in cases as this, the HM Revenue and Customs is responsible for the devolution of this difference.
It is normal that, in the first year of residence in the United kingdom, the sum to be received in return is higher than the other years, since some company accurately does not know in which code to include the people that have just arrived in the country. Also it is usual that students pay unnecessary taxes and, on account of this, have right to request the credit of this value.
To know if you are in the right place with taxes and if you have any sum to get in return from HM Revenue and Customs, contact LondonHelp4U.co.uk via e-mail taxa@londonhelp4u.co.uk.
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