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Your tax return is made up of 5 key areas: Income, tax deducted, expenses, taxable income and personal allowance.

So in 3 steps, it goes like this:

The tax calculation then works out how much tax and national insurance should be paid on your “Taxable profit”, if you have had more tax deducted from you than you needed to pay, then you have “overpaid” tax, and you get that overpaid amount back.

Overpaid tax means you get a rebate.

Useful help pages:


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