Why We’re a Reassuringly Expensive Tax Refund Firm

Regarding tax refunds, we get asked ‘why’re you so expensive’ quite alot.

Well, if you’re thinking this, it’s worth looking at what options you’ve got, apart from using us.

First option for a tax refund

You contact HMRC yourself about your tax refund. This involves ALOT of hoopla, time on the phone, and sending stuff back and fro with each other.

Second option for a tax refund

You use a high street accountant. They’ll charge you £100 – £150 per hour and you’ll have to pay this even if you don’t get a tax refund. If your case gets complicated, or HMRC asks them lots of questions, or loses your file and asks your accountant to resend it (which they’ve been known to do over and over again), you’ll end up paying your accountant loads of money! There’s no way of knowing how much it’s going to cost you until you’ve reached the end of the process, and by then it’s too late! It could easily turn out to be very expensive, and there’s no guarantee you’ll get a refund!

Third option for a tax refund

You do nothing. During 2013-2015, 37% of the reviews we finished ended up with a tax refund, so if you look at that another way, by doing nothing there’s a 37% chance you’ll lose all the money HMRC owes you. That’s the same as paying 100% of your refund to HMRC.

Now that’s really expensive!

Fourth option for a tax refund

Use another company for your refund.

If you want to do this, here’s a couple of useful tips…

Tip 1 – Check for hidden charges. You may have to read the “small print” very carefully to find these charges.

Tip 2 – Check they’re not cherry picking or specifically looking for the big refund cases. If they quote average refunds of over £400, they are. Unless you’re likely to be due a large refund, these firms often find a way not to deal with your case, simply because it’s not worth their while for a lower percentage. They probably won’t say, “you’re not due anything”, but they’ll try and give you that impression. If you’re due a refund and they don’t get it back for you, you’ll probably lose the whole lot. That’s exactly the same as paying a fee of 100%!

Tip 3 – Check they’re not getting you to send your own claim direct to HMRC but making it look as if they’re doing it for you! (They’ll be telling you to send your paperwork to an address with the post code BX9 1AS which is HMRC.) Of course they won’t tell you they’re doing this because they want you to think they’re actually doing some work for you to justify their fee. It’s a very easy trick to miss if you don’t know what to look for, especially as it will be very well disguised. It has all the same risks we talk about in Question 16, with the added risk you’ll pay a fee as well. Apart from the fact you’ll pay them over 20% of your refund, plus a cheque handling fee for doing nothing but letting you download a pack of forms to fill out with some instructions on how to do it, you could end up facing serious problems with HMRC, which you will have to sort out on your own, or pay an accountant to sort out!

Tip 4 – If their website says that they’re members of an “Association”, or “Scheme” designed to protect you or your refund, do some proper background checks into the Association or Scheme. It’s probably not what it appears to be! Also, check the members of that Association or Scheme to see if they’re actually linked to each other, owned by the same people, or even exist! There’s at least one such organisation that several companies are still advertising on their websites, despite the fact it was closed down over 3 years ago!

Tip 5 – Check their “small print” doesn’t say that if HMRC says you have underpaid tax as a result of them making a claim, the company does not accept liability or that it is up to you to sort it yourself. It may not be worded as simply as this, but if you spot wording along these lines, it’s a good indication they’re just making claims for allowances they think you’ve missed out on. If they’re not doing a FULL review of your tax codes for the last 4 years, they could easily send in a claim when you actually owe more tax and they wouldn’t know, which is why their small print is designed to protect them and make it your problem to sort out if they get you into a mess. It could be a very costly problem!

There’s a number of very good reasons why we’re the “Approved Provider” for Trade Unions such as the NUT, ATL, UTU, RMT, & USDAW, professional bodies such as The Society of Chiropodists & Podiatrists, Association of Optometrists, Royal College of Nursing, as well as Local Authorities, Police Federations and major employers.

Ultimately, like most things in this life, you’ll get what you pay for.

If you want to see if a firm is legit or not, try checking with Action Fraud at http://www.actionfraud.police.uk/


So, What Are Your Fees for My Tax Refund?

There’s a famous, old saying that can apply to anything… But especially tax refunds…

You pay peanuts, you get monkeys

We charge just a little more than other, second-rate tax refund firms. This enables us to do a more in-depth review of the taxes you’ve paid, which means we can…

GUARANTEE to get you EVERY PENNY that you’re owed from HMRC.

and unless we can get you a tax refund, you won’t pay us anything.

Where we do help you get a tax refund, our fees are easy to understand. If your refund is up to £100, our fee is £38. If it’s over £100, the fee is 38p for each £1 refunded. In the event your refund is less than £38, you’ll have nothing more to pay us.

Any refund you receive for a current tax year that’s paid directly into your wages is free of charge – there will be nothing to pay us on this part of the refund.

We’ll also arrange a new tax code for you where needed. Any savings this makes for you next year and each year thereafter will be yours to keep. You won’t pay us a fee for these either.


How Your Employer Could Snag You A Tax Refund

When it comes to tax refunds, you probably think

“My employer sorts out all of this tax code stuff, right…”

Like most of the U.K., you probably think this to, and that you aren’t due a tax refund because your employer sorts it all out…

Your employer has to use the tax code they’re given by HMRC. If the code’s wrong, your employer can’t do anything about it. It’s up to you to check the code and make sure HMRC has given them the right one. If it’s wrong, it’s your responsibility to get it corrected as soon as possible.

This sounds a little bit unfair doesn’t it? But that’s the way it is – this article explains the process in more detail:

http://www.thisismoney.co.uk/money/bills/article-2174956/Taxman-set-make-YOU-responsible-checking-tax-code-leaving-risk-shock-bills.html

All it takes is for HMRC to send your employer the wrong code – which we find happens to more than 1 in 3 people.

To find out if you’re on the right tax code, and keep the peace of mind that you aren’t being over charged tax, simply head to:

Our Service


Why Could I Even Be Due A Tax Refund?…

So, You’ve Heard About Our Famous Tax Refund Company…

Maybe someone you know has used us and gotten themselves a nice little tax refund and treated themselves, and you want in on the action.

Naturally, the next question you’ll ask is:

Why could I even be due a tax refund?

There’s a couple of reasons.

The first is HMRC could have made a mistake with your tax code in the last 4 years. This happens a lot more often than you think: Just recently HMRC admitted there were errors in its system which could result in 10,000’s of people over paying tax. And that’s just the errors they know about!

The other is you might not know there are tax allowances, (or were tax allowances as some of them have gone now) you were entitled to ask for so you paid less tax. If you didn’t know about these allowances, there’s no way you could ask HMRC to put them in your tax code, so they give you the wrong code. That meant you paid more tax than you needed to.

The good news is it’s not too late to get your money back because HMRC lets us go back up to 4 years to claim any allowances you missed out on, or to correct any mistakes.

The problem you’ve got is unless you know what to look for, you won’t spot any mistakes and unless you know what allowances you were entitled to, you can’t ask HMRC to let you have them! That means any money you overpaid is going to stay in HMRC’s bank account, instead of yours! HMRC also gives you a deadline to claim your money back. If you miss it, they’ll keep your money!

Want us to check your tax code for FREE and see if you’re due a refund? Simply head on over to http://mytaxcode.co.uk/services/


How Often Should I Check My Tax Code

Another big question you’re probably thinking in relation to your tax code is:

“How Often Should I Check it?”

Good question!

Ideally you should check it every year, or at LEAST once a year. set a date in your calendar – the same day every year – and check your code.

You get a new tax code every year so you should ALWAYS check it’s correct.

You also need to do this in case your employer isn’t taking enough tax, otherwise you’ll end up owing HMRC money and that could cause you financial difficulties in the future.

If you think your code is wrong, or just wants us to check your code to see if everything is wright – free of charge –  simply go to http://mytaxcode.co.uk/services/