Claiming tax refunds after leaving the Armed Forces
09th July 2018
There's no single reason why people leave the Armed Forces. For some it's the pressures of personal and family commitments. For others, it's the lure of opportunities elsewhere. All told, 9,775 British Army soldiers left the Service between 2016 and 2017 alone. Meanwhile, 2015 saw the completion of a plan to reduce Army numbers by over 20,000. Whatever the reason, personnel numbers dropping with more and more Service leavers pursuing new challenges outside the military.
At RIFT, we've always understood the obstacles and opportunities of life after the Armed Forces. Many of our own staff are proud Service leavers themselves, or come from Armed Forces families.
What can I claim an Armed Forces Tax Refund for?
Naturally enough, as a tax refund company we often focus on getting former MOD personnel the cash they're owed. While the battle to prove that Armed Forces work entitles you to MOD tax refunds has been decisively won, there are still many Service leavers missing out.
Whatever your job, if you have postings of under 24 months, or travel to training establishments, you can claim back the tax on what you're spending.There's a whole range of other costs that can claw you back money from HMRC, from accommodation to training – but not enough people are getting the benefit.
Is there a time limit on making an MOD Tax Refund claim?
Even if you've already left the Armed Forces, it may not be too late to get back what your service has entitled you to. You can claim tax refunds for up to 4 years, for an average MOD tax refund of £2,621 (as of March 2018).
Employment for veterans
Of course, claiming tax back is only part of the challenge of life after the Armed Forces. So many industries are crying out for the skills, discipline and determination that MOD work provides. RIFT has helped ex-MOD employees make the leap into everything from security work to the building trade and offshore jobs in oil and gas.
These are all lines of work that need people who can handle leadership, teamwork and stressful conditions. Again, though, tax refunds often still come into play - and RIFT has expert teams covering all these industries, ready to get back what's yours.
Starting your own business after leaving the Forces
If you're looking to start your own business, RIFT has you covered there, too. We can help you get set up, keep you on the right side of HMRC and guide you through the Self Assessment system. Our stand-alone tax return service sticks with you throughout the year to keep everything on track. When it's time to file your return, we'll make sure you never pay more than you owe or get tripped up by a difficult deadline or rule.
RIFT has put well over £56,000,000 in tax rebates back into former and serving Armed Forces pockets to date. Whatever your plans are after leaving the Service, let us help you make a success of them.