HMRC refunds jump to £1,562 with hands-on workers most likely to be overtaxed
manchestereveningnews.co.ukBuilders, security workers, and other contractors could be owed over £1,500 by HM Revenue and Customs (HMRC) after receipts for the taxman ballooned in the past year - with revenue raised from taxing income spiking to almost £1.1 trillion.
Alongside frozen income thresholds and record high tax levels that have seen government coffers boom, there has been a similarly dramatic 6.6 per cent increase in HMRC taking too much money from workers.
Among the worst hit by this tax raid have been construction workers and soldiers. Unfortunately, HMRC can be much slower to return any money they have taken than they were in taxing it in the first place, so many of these workers will need to apply for a tax refund sooner rather than later - especially if they are among the groups of hands-on workers that are most likely to have been overtaxed. READ MORE: Angela Rayner 'cleared by HMRC' over tax on home' While some overtaxing can occur through PAYE, one of the most common reasons for being overtaxed is on expenses incurred while working, which can include fuel costs, accommodation, and purchasing uniform - all of which can be deducted from your tax liability.
The latest figures show that in 2023, the average tax refund owed by HMRC came in at £1,562, a 6.6 per cent increase versus the previous year.
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