What is a tax refund? Whether you’ve been overtaxed on your personal income or are eligible for certain tax benefits that can be refunded, you can get a tax refund (or a rebate) to get some of your money back.. Although the tax system works efficiently the majority of the time, there will be occasions where errors occur and tax refunds become necessary.

1. HSBC Holdings . HSBC is one of the largest banking and financial services organisations in the world. Headquartered in London, HSBC serves over 40 million customers globally through a network that spans 64 countries and territories.. Overview: Founded: 1865 in Hong Kong, with current headquarters in London. Services: Personal banking, commercial banking, wealth …

1. Kuwaiti Dinar. Country: Kuwait Currency Code: KWD The Kuwaiti Dinar is renowned as the strongest currency in the world. Introduced in 1961, it has maintained a commanding presence due to Kuwait's substantial oil reserves, which account for a …

What happens if employee earnings are below the threshold? To be auto enrolled, an employee has to be aged between 22 and state pension age, and earn at least £10,000 a year.. You must auto-enrol eligible employees, although those who aren’t eligible for auto-enrolment have the right to request access to a pension scheme.

If you’re planning for retirement, you may be wondering if your state pension is taxable and whether you pay tax on any pensions. This guide explores what you need to know about tax and your pensions, as well as how to avoid paying tax on your pension and how much tax you might pay on a lump sum.

What is national insurance? National insurance (NI) is a tax on your earnings, whether you are employed or self-employed. Currently, you start paying once you earn at least £242 a week as an employee or if you make a profit of at least £12,570 a year as a self-employed worker.

Your P60 gives you an overview of your earnings and all the tax that you paid during the tax year.. While you might know that a P60 can help you claim a tax rebate, it's also an important document to keep for a few different non-tax reasons.. Want to know more? Here’s everything you need to know about your P60. Summary. A P60 is a document containing all your yearly tax-related …

Summary The 1257L tax code is the most common in the UK, indicating an annual tax-free personal allowance of £12,570. Your tax code may change due to factors such as changes in income, employment status, or benefits received.

How does higher rate tax relief help my pension? The extra tax relief offered to higher rate taxpayers makes pension saving at this level up to twice as rewarding as saving on a basic-rate income.. Claiming all available tax reliefs is an important way of ensuring you are getting the most value out of your pension contributions.

What is a P800? A P800 is an end-of-year tax calculation letter that HMRC will send you if you have overpaid or underpaid on your tax. The letter will tell you if you need to pay more or whether you’re eligible for a tax refund.. There will also be a more detailed breakdown of the calculation.