Self assessment: don’t create a rift between you and HMRC.

Forces Money
Military tax refunds FAQ
April 28, 2018

If you are considering applying for a military tax refund, you may also be considering to complete the process by yourself, after all, you could save yourself 25%.

This one reason may be tempting enough to encourage you to facilitate a reclaim by yourself, however there are substantially more reasons as to why you should reconsider and consult a professional firm for such a service. For example, an inaccurate or faulty application, even containing one simple miscalculation, will result in a potential under or overpayment from HMRC. While an overpayment sounds ideal, HMRC are probably going to want it back and are more than entitled to obtain it – let’s hope you haven’t spent it. Another head’s up, deliberate or innocent miscalculations resulting in overpayment can ensue fines.

Anyone can complete their own self assessment, but determining whether you’re actually eligible for such a refund is not so simple. Here at Forces Money our Chartered Accountant has been handling such assessments for the last 30 years and is well equipped with the knowledge to make such decisions surrounding your personal eligibility.

In addition to this aiding a more efficient reclaim process, our Chartered Accountants ensure an accurate tax reclaim is submitted to HMRC.

What may seem like a quick and easy tax return submission, can often be hindered by long phone calls to HMRC and your personal time can easily be consumed trying to decipher relevant documentation. Our team have overseen the reclaim of over £7million and also benefit from a specialist direct line for all tax related enquiries, saving you the time and phone bill.

With the average tax refund valuing £2,000, the reclaim process is an important investment and should be carefully considered. In all walks of life we consult professionals to oversee our finances, repair our cars and even assess our health. Whilst consulting google for all of the above can provide an easily accessible fix, it’s always best to leave it to those with the relevant credentials and your tax return is no different.

For more information on military tax refunds and how to kickstart your claim click here. Are you entitled.