- Published on Friday, 27 November 2015 09:37
- Written by Super User
My Finance Advisor’s most frequently asked questions.
Because you may have a simple question, or want to find out more about our company, we’ve compiled a list of the questions that we most frequently get asked. If you can’t find what you’re looking for here, please contact us with your question or request at any time and our friendly team will get back to you within one working day.
1. What Are Tax Refunds?
Workers paying tax are often able to claim a tax refund on their income if the tax they owe is less than the tax that they have paid. Tax refunds are basically money given back to the taxpayer at the end of the financial year.
2. How Do I Know If I Qualify For A Tax Refund?
My Finance Advisor can determine if you qualify for a tax refund or not. If you have only worked part of the year abroad, you may have been charged tax on your earnings for the whole financial year away and can receive a substantial refund for monies overpaid. If you did not obtain a tax number, you may have been paying a rate higher than your tax bracket and qualify for a refund. Everyone’s case is different and we will help you determine how much you qualify for.
3. What Are Tax Numbers?
For anyone wanting to work in their home country or abroad, a tax number is essential. Tax numbers are issued by governments and used to keep track of citizens working, so that that their tax contribution is correct and up-to-date.
4. What Happens If I Lose My Tax Number?
My Finance Advisor will always keep your information secure, so if you lose or misplace your tax number, you can contact us and we will retrieve the information within minutes.
5. Why Is My Residence Status Important For Tax Purposes?
If you are a UK resident you could be liable to UK Income Tax and Capital Gains Tax on worldwide income, so it’s important that you seek adequate financial advice before working abroad. Non-residents are only charged tax on income arising from a source in the UK, but they will be required to provide evidence of their overseas domicile to avoid double taxation.
6. What If I Move Countries Regularly?
If you move countries regularly yet use one fixed address as your fiscal residency, it’s vital that you seek taxation advice and recommendations, as you could be penalized for failure to pay tax, or end up paying double tax – in your home country and country abroad.
7. Will My Tax Information Remain Confidential?
Yes. My Finance Advisor treats all personal data as private and confidential.
8. Why Should I Choose My Finance Advisor To Prepare My Taxes?
We provide an effective and transparent range of taxation services designed with one goal in mind – to put more money in your bank account. Taxation laws, especially foreign taxation laws, can be difficult to understand and we will simplify the whole process for you.