Things That Can Affect Your Tax Refund

Things That Can Affect Your Tax Refund

Although the optimal outcome is to break even with Uncle Sam, many people count on a tax refund like a kind of savings account. A change to your income or circumstances may affect how much Income Tax you have to pay. It’s important to let us know about any changes right away so we can work out whether you need to pay extra or less tax. By contacting us early you can avoid paying too much tax or owing tax at the end of the year.

Check list of changes you should notify our office about:

If you get married

 

If you start getting a second income

 

If you become – or stop being – self-employed

 

If you start or stop getting company benefits – a company car or medical insurance

 

If you start getting a company or personal pension

 

If you start getting a State Pension or other taxable benefits

 

If there is a substantial change in your income

 

If your spouse dies

 

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