It is very surprising to note from the Government’s own published figures that huge amounts of overpaid income tax, national insurance and VAT go unclaimed. Many individuals and businesses are simply not aware that refunds are available in the following situations:
* Income tax refunds by claiming the correct reliefs and allowances due to an individual.
* Income tax refunds for foreign workers on secondment to the UK as special concessions apply.
* Capital allowances claims on plant, equipment and other fixed assets.
* VAT refunds on expenses.
* National insurance refunds where foreign workers have had NI incorrectly deducted where the “52-week” concession applies.
* Income tax refunds for construction industry workers.
* Childrens’ tax credits.
* Claiming for foreign tax credits for businesses.
* Refunds of overpaid corporation tax in many situations, particularly affecting foreign businesses operating in the UK.
* Tax refunds arising out of special incentive schemes.