Hundreds of UK residents move to New Zealand each year either for work opportunities or simply to start a new life. Did you know that as a UK expat living in New Zealand, you could be entitled to an expat tax refund? It is surprising to find that not many UK expatriates take advantage of this opportunity. The result is that these individuals miss reclaiming thousands of pounds of their money from the UK government. The following are some of the common reasons why such individuals refuse to claim their tax refunds.
- They claim it is too much trouble/work
Many expats believe that the process of claiming their tax refunds is too much of a hassle. They think that the HMRC is too bureaucratic to investigate their claims quickly, and that it is even difficult to get a hold of the HMRC.
Another thing that puts people off about claiming their tax refunds is the belief that they have to submit many forms to the HMRC. Filling in the expat tax return as well as submitting the P85 and P45 forms is just too much work for some people.
However, the process is as simple as giving the HMRC a call to inform them that you want a tax refund. They will guide you on what you need to do to get your money back. Alternatively, you can rely on the services of tax refund companies such as Tax Rebate Services. This company will make the claim on your behalf. You can contact this company using this link, https://www.taxrebateservices.co.uk/nz/tax-guides/leaving-uk-tax-back-guide/leaving-uk-tax-back-guide-new-zealand/.
- They claim it is too late
You have four years to claim a tax refund if you believe you have made an overpayment for a particular tax year. Thus, you should never assume that it is too late to make a claim. You need to check your previous tax returns every year to determine if there is an overpayment, and if there is, proceed to make a claim.
You can also contact the experts mentioned above to determine whether you have a legitimate claim for a tax refund. These experts will be able to pinpoint whether you are still within the time limit to make a claim.
- They believe that they are ineligible
Another common misconception that expats make when it comes to claiming tax refunds is assuming they are ineligible to make a claim. If you have worked in the UK for a considerable period and paid taxes before you left for New Zealand, chances are that the UK government owes you a tax refund.
You are also eligible if you moved during the tax year, and had paid tax for that year. If you had more than one job while in the UK, you may have overpaid your taxes, thus making you eligible for a tax refund. In addition, you may be eligible for a tax refund if you were under an emergency tax code within a tax year.