Tax Refunds for Ex-Forces Personnel
16th October 2019
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, over 8,000 people left the Service in 2018 alone. Meanwhile, 2015 saw the completion of a plan to reduce Army numbers by over 20,000. Whatever the reason, personnel numbers are dropping with more and more Service leavers pursuing new challenges outside the military.
At RIFT, many of our own staff are proud ex-service personnel themselves, or come from Armed Forces families. That means we've always understood the obstacles and opportunities of life after the Armed Forces.
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 on a typical yearly payout of around £760.
Whatever your job, if you've had Armed Forces postings of under 24 months in the past 4 years, you can claim an MOD tax refund on what you're spending on travel. There's a whole range of other costs that can claw you back money from HMRC as well, from accommodation and food to your journeys to and from 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 £3,038.
What better way could there be to start a life on Civvy Street than letting RIFT put an extra £3,000 in your pocket that you weren't expecting?
What I do if know someone who's left that I think is due a refund?
If you know someone who’s left the Armed Forces in the last few years and hasn’t yet claimed their refund, our Refer a Friend scheme gives you an amazing opportunity to help – and get a little something for yourself at the same time.
Every time you refer someone to RIFT who goes on to make a refund claim with us, you get a cash reward of £50. On top of that, there are regular prize draws to be won – with prizes worth as much as £1,000!
What's more, if you refer a friend now you could both be in with a chance to win £1000 in our Christmas Double Acts special Star Prize!
All you need to do is call us, or use our online form, to give us your friend's contact details and we'll send them a quick message with a link to check if they're due any money back. If they do go on to claim a refund with us, we'll send your reward when we send them their money.
If you don't want to give out their details and would rather get your friend to call us directly, remember to tell them to mention your name so that you get your rewards and you both get entered into the competition.
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 and the building trade to offshore jobs in oil and gas.
These are all lines of work that need people who can handle leadership roles, intensive teamwork and stressful conditions. Again, though, tax rebates 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. If you're thinking of setting up your own business then get in touch with our RIFT Accounting division who will provide all the support you need.
RIFT has put well over £74 million in tax rebates back into former and serving Armed Forces wallets to date. What’s more, if you’ve claimed before with RIFT, we’ll welcome you back with an exclusive discounted MOD fee of just 25%!
9 out of 10 RIFT customers report receiving a bigger refund through RIFT than they could have got alone, so there’s no reason at all to leave your cash in the taxman’s pocket. We also take care of the tricky stuff like checking that your tax code’s correct, and getting it fixed if it’s wrong. We handle the whole process for you, so you never have to deal with HMRC yourself.
Whatever your plans are after leaving the Service, let RIFT help you make a success of them. To find out how much you could be owed, use our free tax refund calculator.