It’s a whole new year, filled to the brim with promise and possibilities! Now’s the time to shake off the remaining 2020 blues and burst out into a world of bold resolutions and good intentions. Or at least, it would be if we weren’t still dragging around the heavy load of 2020’s stacked-up debt behind us.

Unfortunately, that’s the situation that an estimated 7.9 million people in the UK are facing as January dawns. The New Year financial hangover has become as much a British tradition as paper hats and Brussels sprouts over the festive season, and the strain’s becoming hard to bear for many. The COVID-19 pandemic has left its mark on UK households’ spending power, driving millions badly into debt.  In fact, about 1 in 6 of us are finding ourselves struggling through January under the weight of our December debts. With half of us unable to save up at all during the Christmas countdown, that leaves millions of people battling bills and repayments deep into the New Year. Worse still, over 1 in 3 of us still insist on whacking big chunks of our festive spending onto high-interest credit cards each year. With interest racking up the longer those debts sit there unsettled, we’re laying a nasty financial trap for ourselves down the road.

Now’s the time to make sure you kick off 2021 with your finances in the best shape of your life. That means your first and most important resolution should be to make sure you’re getting the very most out of the 2020/21 tax refund HMRC owes you. We all tend to over-indulge at Christmas, so a well-built tax refund claim is the best first step you can make toward securing your financial fitness in the coming year.

The truth is, bulking up your wallet after Christmas doesn’t have to be a huge strain. If you’re already claiming back the tax you’re owed by HMRC each year, you’ve got the perfect financial hangover cure already waiting for you. All you have to do is keep your mileage and expenses details up to date and RIFT will do the rest. All the gain, none of the pain!

Most importantly, it might not be too late to claim your tax rebate from as long ago as 2016/17! The tax laws allow you to reclaim overpaid tax for up to 4 years. That means, even if you’ve never made a tax refund claim before, you could still get back what you’re owed. You’ll have to be quick off the mark, though. Once the new tax year ticks over on the 6th of April, anything you’re owed from 2016/17 is gone forever!

Knocking out your debts with a tax refund from RIFT is the most effective cure for your 2021 financial hangover. Now’s the perfect time to start flexing those money muscles for the best possible start to the New Year. If you’re already a RIFT customer, check your RIFT Refund app and make sure your details are all up to date. If you’ve never claimed with us before, get in touch to start your yearly tax refund claims rolling. Then take a breather and let RIFT carry the load.

With over 20 years of experience tackling the taxman, RIFT is the UK’s leading tax refund and tax return expert. Use our free tax refund calculator for an instant estimate of how much you could be owed.