Don’t Be Penalized By The Paye System

The paye system is a commonly used taxation method in the United Kingdom. This is a “Pay As You Earn” system that typically works well so long as the individual is paid the same amount of money each month. However, when pay differs from one month to the next, this system can cause overpayments that says can cost taxpayers.

This particular site actually details the numerous ways one might be penalized by the paye system. It states the following:

However, if your pay fluctuates you could end up paying more tax than you need to.

Equally if you are not employed for the full 12 months of the year, perhaps due to the seasonal nature of your job, unemployment or study, you may not get the full benefit of your personal allowance and as a result pay too much Income Tax.

These are just a couple of problematic issues that may pop up under the paye system. The HM Revenue and Customs website itself references the personal allowance amount that anyone in the UK is allowed to make prior to receiving any kind of taxation. Thus, if someone is in a position where they are already paying taxes on any amount that is below the personal allowance figure, they are being overtaxed.

Taxback is a great answer to the potential problem of being overtaxed. This service allows those who have seen their hard earned money unfairly go to the government get it back. Taxback fights for every single pound that the taxpayer is duly owed to be returned to them. One of the best parts for many is being able to avoid having to learn complicated tax code for the purposes of reclaiming their money. Taxback can do the heavy lifting.

If you believe the paye system may be causing you to lose out on some of your hard earned money, please contact us for assistance or apply for your tax refund online.


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