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02 September 2022

How to get your tax rebate in record time

We regularly get people telling us they are due a tax rebate but haven’t had it yet, is there anything they can do to get it faster?

The conversation generally goes along these lines:

Client: I submitted all my information ages ago, but I’ve not had anything back from the Taxman (in Guernsey this is officially called the Revenue Service).

Lince Salisbury: When exactly did you submit your return?

Client: Oh, I posted it last month and then sent in some other information last week.

LS: Okay, so there are a couple of things there. Firstly, you might not know, but you’re likely to get a better processing time if you submit online rather than in paper format. The Revenue Service are working hard on continually improving their online system, and we submit 95% of all our clients’ returns online. Secondly, if you imagine there are over 25,000 submissions for the Revenue Service to review, if you don’t send a complete return in at the first go, you may get to the top of the pile and then be put on hold for two weeks whilst they wait for that information. Just doing a rough estimate, for 25,000 returns, means over 480 a week, so any delay in getting information could easily put you 1,000 returns down the line.

Client: But my return is easy, I’ve only got employment income, some bank interest and that’s about it.

LS: That’s great, that means we can organise you for next year to get everything ready so you can submit online almost as soon as the form goes live. Sound good?

Client: Sounds good, but I’m not great at keeping everything together.

LS: No problem; jump on to our website and download our simple checklist for keeping your records in a safe place. Tick the box as and when it all comes in, and once you’re complete get to work on your tax return.

Client: [sips cup of tea provided by us] Okay, that sounds like a plan.

The conversation ends with our client knowing a bit more, and being prepared a lot more for the next year.

Top Tip: Keeping your records together as you get them through the year makes the year end tax return much easier. Put everything in a single file marked with the relevant year. You can do that with paper or on your computer. 

Of course, if your tax matters are a little more complex, or you really don’t feel comfortable submitting yourself then that’s where Lince Salisbury can help. We do tax returns for people with one or two Guernsey based income streams, all the way through to multiple income streams from multiple jurisdictions. If you need help with your tax return, then please get in touch.

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