tax rebate calculator

tax rebate calculator

As a guide to how much can be expected as a tax rebate we feel it would be useful to demonstrate an example of a typical scenario and tax rebate calculator.

For the year 2016/17 a self employed individuals tax free personal allowance is £11,000. The higher tax rate threshold is £43,000. This means that the level of basic tax paid is on any amount of profit between these two figures which is £32,000. The basic rate of tax is 20%. The higher rate of tax is 40%.

Therefore an individual who takes £40,000 in a year but incurs £5000 of business expenses will make a profit of £35,000. The personal allowance of £11,000 is reduced from this, leaving £24,000 in taxable profits. This individuals tax bill will therefore be £4,800.

However, if due to our analysis we later discover that the expenses should have in fact have been £15,000, this would mean that this individuals taxable profits should have been £14,000 and their tax bill should have been £2,800.

Therefore this individuals tax rebate for ONE YEAR would be £2,000. If that year was typical of the previous 4 years we can track back and reclaim that overpaid tax as a rebate leaving this individual with a total tax rebate of £8,000.

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In terms of how it works, the principles are quite simple however the application of the process can be technical. To summarise, as a self employed individual you are required to account for your profits or losses by showing your income and then having that cross calculated against any work or business related expenses that you have occurred throughout your trading year.

Most people either do this themselves or have an accountant do it for them. Both approached are perfectly acceptable however the end figures are then presented each year on a self employed tax return. This then allows HMRC to determine your tax liability, or hopefully, any tax rebate self employed category you may have fallen into.

However we find, quite simply that in eight or nine cases out of ten, when we take on a new client, despite that client having either done their own self employed tax return or CIS tax return", or indeed hired an accountant to do it for them, when we place their tax situation through our analysis and process we find that the client has in no way received the full benefit of the expense allowances that are available to them.

This means that they have been over taxed. Or in many cases, it means that they may have received annual tax rebates however those rebates have been incorrect. In many cases, the client is completely unaware of this.

Our service is bespoke and specific. We appoint a single tax agent, focusing entirely on all matters tax rebate self employed to look after you from start to finish. That agent will look into every aspect of your taxes going back FOUR YEARS. Analyse every allowance that is available to your situation and then re apply them to that FOUR YEAR period. Once complete we then submit our findings to HMRC and within approximately 4 to 8 weeks this will hopefully produce a self employed tax rebate, or if you are under the CIS scheme a CIS tax rebate. Our average payout is £2000 for tax rebate self employed however we have also seen payouts well in excess.


We cater for every single type of self employed individual in the UK. Whatever your work category we can certainly help you. We have clients who work in the service industry, and have only just become self employed. These clients may very well need help with their self employed tax return. Or we have clients that have worked in the trades for many years, they may be your local plumber or a jobbing builder. For these we would look into all manner of tax rebate self employed categories. In many cases our clients are sub contractors within the wider construction industry and for those we would look into CIS tax rebate opportunities. And these very same clients can of course get all the help and service they require with their CIS tax return".

And many more. From company directors to your local dog walker and everything inbetween. Our service is bespoke and unique to you and YOUR circumstances. Whatever the scenario we will guide you and assist you and be certain that we explore every avenue of your self employed tax rebate.

Simply get in touch, using the claim now page or the claim now links and we can take it from there.

To get started? Simply click CLAIM NOW.

Click the link below for specific info on the category of TAX REBATE or TAX SERVICE that best suits you.

Self Employed Tax Rebate.

CIS tax rebate.

CIS tax return.

Self Employed Tax Return.

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    Over half a million to be taken out of tax by 2017/18

    In summary:

    Personal allowance increase to take nearly 600,000 people out of tax by 2017/18

    Increases in the higher rate threshold to give higher rate tax payers extra £103 in 16/17 and £160 in 17/18

    Basic rate and higher rate tax payers with savings income will receive tax saving of up to £200

    Personal allowances and thresholds

    ,p>“Whilst the personal allowance for 2015/16 is to increase to £10,600 as trailed in the Autumn Statement, the Chancellor intends to increase these further to £10,800 in 2016/17, and to £11,000 in 2017/18. These increases are consistent with the agreed Conservative and Liberal Democrat policy of increasing the personal allowance to £12,500 by 2020 and will take another 247,000 people out of tax altogether in 2016/17, with another 341,000 to follow in 2017/18.

    “The higher rate threshold will remain at £42,385 in 2015/16 giving a basic rate band of £31,785. This compares to the 2014/15 higher rate threshold of £41,865 and the basic rate band of £31,785. However, in 2016/17 and 2017/18 the higher rate threshold will increase, to £42,700 and then £43,300, giving basic rate bands of £31,900 and £32,300 respectively.

    “The overall cost of these increases are predicted to be £960 million in 2016/17 and £1.48 billion in 2017/18.

    “Whilst basic rate taxpayers will receive an extra £40 in cash terms in 2016/17 (and a further £40 in 2017/18), higher rate taxpayers will benefit even more due to the increases to the basic rate band as well as in the personal allowance. Our calculations indicate that higher rate taxpayers will receive an extra £103 in cash terms in 2016/17 and a further £160 in 2017/18.

    “These increases in the basic rate band are the first since 2009, and are a welcome reversal in this area which will hopefully reduce the estimated 18% of taxpayers who are currently higher rate taxpayers – an increase from 10% at the start of the Coalition government.

    “In contrast to recent Budgets, those earning over £121,600 (in 2016/17) or £122,000 (in 2017/18) will also benefit from the changes as despite not receiving a personal allowance, the increases in the basic rate tax band mean that these taxpayers can expect to receive an extra £23 in 2016/17 and a further £80 in 2017/18.

    “The upper earnings limit and upper profits limit for national insurance will be increased in line with the personal allowance. No changes have been announced to the primary threshold, so the anomaly of low paid employees being taken out of income tax but remaining in national insurance still remains.”

    Savings rates and allowance

    “The new Personal Savings Allowance should benefit the majority of savers – indeed the Chancellor stated that this measure would take 95% of savers out of tax on those savings.

    “From April 2016, those with annual taxable income of less than £42,700 will enjoy the new Allowance which exempts the first £1,000 of interest earned in the year from tax. For those earning between £42,701 and the additional rate threshold of £150,000, the new Allowance will be restricted to £500, so that they receive the same maximum £200 saving per year as basic rate taxpayers. Any interest earned in excess of the £1,000 / £500 Allowances will remain taxable at the marginal rates of 20% and 40% respectively.

    “Additional rate taxpayers earning over £150,000 will not benefit from the Allowance.

    “This announcement builds on the Chancellor’s previous Budget in which he undertook to exempt from tax any interest received by a saver whose total taxable income was less than £15,600 (from April 2015) by introducing a savings rate on interest of up to £5000 of 0%. But this rate only affects people on low incomes as non-savings income is taxed as the lowest slice of income and does not attract the 0% band. Hence, only those whose non-savings income is less than £15,600 (in 2015/16) will benefit from this change, whereas the new savings exemption will benefit all those with savings income providing their overall income is less than £150,000.

    “Taken together however from April 2016 those with overall income of less than £16,800 will not have to pay tax on any savings income.

    “From April 2016 it is proposed that the 20% automatic deduction of tax from non-ISA bank interest will be abolished entirely, which is an essential change to ensure that the savings are delivered without the need for repayment claims.”

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