In the past 2 years, 62% of the PDA members who have completed their employment tax review have got money back from HMRC. The average amount works out at £205 each, although some members have received over £800 from HMRC after using the service provided by the Tax Refund Company (TRC).
The service assists PDA members by checking the accuracy of the tax codes issued to them in the current year, and the past 4 years, although those using the service don’t need to have kept their tax codes from previous years. Taxpayers are allowed up to 4 years to claim back any extra tax paid in error.
Access to the service is just one of many benefits available to members as part of PDA Plus. The PDA provides these added benefits to members as part of membership. PDA Plus includes exclusive special offers, whether it’s a meal out with friends, the weekly grocery shop, income protection or renewing car insurance, PDA Plus has a deal that could save PDA members money.
One PDA member said, “I was apprehensive at first to use the Tax Refund Company, however, as it was through the PDA I believed it was legitimate. I didn’t know if my tax was wrong, but I thought I might as well give it a go as the review was free. It was quite straightforward to complete the application, and I was kept well-informed on how my application was progressing.
I was very satisfied with the overall service and I certainly received a larger refund than I expected. The Tax Refund Company even went back to HMRC after my initial tax refund to challenge the amount as they believed I was owed more, which turned out to be correct! As my tax code is now correct, I pay less in tax every month, so the service basically pays for itself. I would highly recommend The Tax Refund Company to other PDA members.”
Members could contact HMRC and undertake their own tax review without TRC involvement, however, the service helps those who don’t feel able to do so. There is no charge if no refund is due, and the service is funded through a percentage of any refund secured being paid to the TRC. As in the example above, ongoing savings because of an accurate tax code thereafter are also a benefit exclusively for the member concerned, with no further fee due to the TRC.
PDA members can find out more about this service and how they can benefit from other PDA Plus offers by logging into their PDA Plus account.
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Membership is FREE to pharmacy students, trainee pharmacists and for the first three months of being newly qualified.
Read about our key member benefits here.