Early Tax Rebates – FAQs
You’re bound to have a few questions about our Early Tax Rebates. And we wouldn’t blame you. Here’s everything you need to know about our new service.
What is an Early Tax Rebate?
In a nutshell, it’s a really simple and compliant way to get some of your April rebate cash sooner. You’ll be used to starting your tax rebate claim from 6th April (the new tax year). That’s fine, but apart from Easter, what else are you going to spend your money on?
Our Early Tax Rebates calculate how much your your estimated rebate for the full year should be and pay you up to 60% of that amount, direct into your bank account. Then in April, we’ll top you up with the remaining balance.
So, is it a loan or credit agreement?
No, it’s not. We basically advance you part of your April cash either in December or January.
Who can claim an Early Tax Rebate?
If you’ve been fully under the Construction Industry Scheme for the tax year 2016/17, you’re entitled to an Early Tax Rebate. So it’s EXCLUSIVE to our CIS clients.
If you’ve had any PAYE or Jobseekers income, don’t worry. We can still arrange for a 24 hour rebate in April.
How do I claim an Early Tax Rebate?
Easy. Just give us a call on 0203 285 6223 to request our Early Tax Rebate pack. You can even download one here.
All you need to do is fill in the details and pop it back in the post to us along with proof of earnings. We’ll then estimate your forecasted total annual rebate and pay you up to 60% of that figure, direct into your bank account!
So what are the fees then?
You pay a proportion of our standard fees for an Early Tax Rebate, based on when you put your claim in. They start from as a little as £295 and range up to 19% of your rebate total. Fees can vary from client to client and we’ll tell you in plain English what your fee will be BEFORE you say yes to your Early Tax Rebate.
There is also a standard admin fee for our Early Tax Rebate service (approximately £35 depending on the size of your rebate). Full details can be found in our Terms and Conditions.
When can I expect to receive my Early Tax Rebate?
We aim to have the money in your account within 5 working days from receiving your completed pack and proof of all income.
Are there any deadlines?
Yes there are a couple that you need to be aware of.
- 21st December 2016 – this is the final cut off for ALL pre-Christmas payments. Anything received after this date will be completed in January.
- 27th January 2017 – this is the final deadline for ALL Early Tax Rebates.
When do I get the rest of my rebate?
So, as you know you’ll get up to 60% of your rebate before Christmas or in the New Year. When April comes around, we’ll be topping up your rebate with the outstanding balance .
YOU WILL NEED to complete our short tax pack in April in order for us to submit your tax return to HMRC for the year end and to claim the rest of your rebate. This basically confirms the rest of your income for the remaining months of the tax year.
If we do not receive your April 2017 tax pack by 31st May 2017, you will need to repay the Early Tax Rebate received in full to Brian Alfred. We will of course remind you closer to the time to make sure you’re compliant with HMRC.
Can I still refer people?
Yes, of course you can. And you don’t have to be a client either. We’ll pay you £50 for each person who receives their Early Tax Rebate from us, with a £150 bonus for when you refer 5 people. There’s no cap and the more you refer, the more you earn!