As a UK student, you will find increasing opportunities to study or to work abroad. Students are provided with options to either apply for full degrees or a doctorate level program in an acclaimed international institution. For people who are earning an income in abroad will need to intimate HMRC and ponder on their UK tax situation. This is generally required whether your UK tax refund is due or you require to complete a tax return. Getting assistance of tax filling companies eases the process of tax filling to a lot of extents.
Claiming tax for refund
Most of the UK students are seen going abroad to study and make a grand career. To bear their daily living and study related expenses, students while studying also intend to work there. The money earned by them covers up their living costs, trips, tuition fees, etc.
The bad news is that they have to pay tax on the income they earn while working abroad. The good side to it is that as per the government rules they can claim the amount that is deducted in the form of tax. This comes as a huge relief for them.
What is taxable and non-taxable as per UK government policies?
Tax claim can be done only on those things that are taxable like earned income. It cannot be claimed on non-taxable things such as receiving other forms of monetary support for education, training, maintenance, grants, employer-sponsored payments, scholarship income, gifts received from parents. These are not taxable when studying or working in the United Kingdom or overseas.
Features of tax filing solutions in recovering tax
There are companies that specialize in studying abroad tax rebate, and provide tax filing solutions to make this complex task very simple for students. These companies work with a team of well qualified, experienced and certified tax consultants who help students in providing tax refunds in around sixteen different countries all over the world.
There can be a case when you were not aware of claiming tax refund. So, these professionals provide the facility of free to use tax refund calculators which gives an approximate idea to a student of how much amount they owe till date.
Their professionals offer immediate assistance to students by different ways such as live support, chat, email etc. Their round the clock and dedicated support help in efficient and timely resolution of their queries. Many of these companies work with the policy of ‘No Refund- No Fee’. This is in the nest interest of the students. A student is liable to pay the fees only if he receives the refund. This gives an assurance to the student that they will receive tax refund within stipulated time. It also saves them from any financial burden.
Conclusion
To claim for tax refund, it is very important for a student to learn about the tax rules and regulations as prescribed under “National Insurance contributions” that applies to students working abroad. This knowledge helps them to easily perform the tax claim formalities and obtain the tax refund effectively.
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