Time to check if you’re due a tax allowance windfall
Tax reliefs could be worth thousands a year to workers, but many forget to claim them, or don’t realise they can, writes Louise Mcbride
TIME is running out for workers to claim a valuable tax refund they may be entitled to. There is a four-year limit on how far back you can claim tax refunds — and so this New Year’s Eve marks the last day that you can claim any tax relief you’re entitled to for 2014. Tax reliefs could put hundreds, perhaps thousands, back into your pocket — so it’s important to claim them.
Even if you don’t believe you’re due a tax refund for 2014, it’s worth reviewing your expenses and tax credits for 2014 and subsequent years as you could be entitled to tax back. People often overlook, and forget to claim, tax reliefs — and in doing so, lose out on their chance for a tax windfall.