Tax Refund Companies, are they worth it?

npearson01

My union has sent me a form for The Tax Refund Company who are offering to review my tax and try to get a rebate which would be lovely, but then we read on and note that they charge 40% of any rebate (no rebate noe fee).

Is it worth going with this as although they charge 40% ultimatley they are only getting money I don't currently have or is there a better way to do this?

fengirl_2

Don't go near them. They are only doing what you can do yourself. They normally just check that you have been given your fixed rate expense allowance. If you can either post or PM me with what your job is, I can advise.

danny69

If you are aware you are due a rebate, then fill the forms in yourself. But if you arent aware you are owed a large sum, then get them to do it for you. I only got about £30 in rebates but it is money that I wouldnt have thought I was entitled to, so its free money! Are you in USDAW by any chance?

Tarasam

Please dont use them, when a refund is due contact the tax office, a phone call is normally all it takes, unless the tax office is missing some info.

Why would you even want to give any company a % of your tax due back, plus not to be funny but these companies staff leave a lot to be desired (i have to speak to them on a daily basis)

Cook_County

These are unqualified almost always. Use a Chartered Tax Adviser or Chartered Accountant if you need help with tax...in the meantime complain to your union.

3plus1

npearson01 wrote: »

Is it worth going with this as although they charge 40% ultimatley they are only getting money I don't currently have or is there a better way to do this?

The best way to do this is to do it yourself. I always recommend people call in an accountant when their tax affairs are messy and they could do with the technical expertise, but claiming a rebate is something you could do yourself for minimal hassle.

Bit surprised a union has sent you an advert for a company like this. I would have thought unions were meant to stick up for your best interest, and giving away 40% of money that is owed to you is certainly not your best interest.

fengirl_2

These companies have been around for years - certainly I was dealing with them as HMIT in the 1990's. They operate by getting large groups of employees signed up and basically checking back 6 years to see that they have been given the correct expenses. If an employee had a real tax issue, they wouldn't be equipped or qualified to deal with it. I too am surprised that unions agree to deal with these companies, but I guess that not all union officials are clued up about tax.

johnllew

fengirl wrote: »

I too am surprised that unions agree to deal with these companies, but I guess that not all union officials are clued up about tax.

Could it be something to do with the bung the unions are likely to get?

greyteam1959

johnllew wrote: »

Could it be something to do with the bung the unions are likely to get?

Got it in one that man
Nothing like a little bit of bung here and there !!!

amf

mervyn11 wrote: »

Got it in one that man
Nothing like a little bit of bung here and there !!!

Yes, it definately is the bung:rolleyes: A large union membership list is worth its weight in gold to these parasites.

The worst of these companies usually try to get involved with workers in the construction industry. They submit bogus claims for travel and subsistance expenses and hand tools costs. The worker gets a refund minus commission if he's really unlucky - he then gets the whole lot, plus interest and penalties to pay HMRC when his Tax Returns are selected for enquiry:mad: