Thanks everyone
I need to dig out some paper work I think. Then I can see where I am
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| Getting tax back? http://www.x404.co.uk/forum/viewtopic.php?f=3&t=4731 |
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| Author: | forquare1 [ Fri Dec 04, 2009 9:17 am ] |
| Post subject: | Getting tax back? |
Hi all, I've been told by friends that I may be eligible to get some tax back because I haven't worked a full financial year (only April-September). Is this correct? If it is, how do I go about claiming the money back? Thanks, Ben |
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| Author: | HeatherKay [ Fri Dec 04, 2009 9:28 am ] |
| Post subject: | Re: Getting tax back? |
A very good question. Try http://www.hmrc.gov.uk/calcs/stc.htm first. |
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| Author: | EddArmitage [ Fri Dec 04, 2009 10:49 am ] |
| Post subject: | Re: Getting tax back? |
It depends if you've earnt over the minimum tax threshold during that period, and whether or not you'll earn any more that'll put you over the threshold during the remainder of the year. I managed to get £300 or so back after last year's summer work, eventually. |
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| Author: | Nick [ Fri Dec 04, 2009 11:01 am ] |
| Post subject: | Re: Getting tax back? |
I have got money back for the last few years. In April, when you get your P60 just take it down to your local tax office and they will do the rest. |
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| Author: | l3v1ck [ Fri Dec 04, 2009 11:16 am ] |
| Post subject: | Re: Getting tax back? |
You should get some back. Your company will have taxed you every month on the basis that one twelfth of your tax free allowance should be used each month. As you haven't worked a full financial year, more than should of been used (though they had no way of knowing at the time). If for example you've worked eight months this financial year and don't work again. You should get back tax you've paid on four twelfths of your tax free allowance. eg If you tax code is 437L, that's £4370 per year tax free, ie £364.1 a month tax free. At 20% tax (Is that correct these days?) four months reclaim should be: £364.1 x 4 = £1456.4 x 0.2 = £291.28 tax you've overpaid and should be able to claim back. Do the maths for your tax code and the number of months you've been paid this year. |
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| Author: | adidan [ Fri Dec 04, 2009 11:50 am ] |
| Post subject: | Re: Getting tax back? |
Find out your tax office and give them a ring. I did it a few years back when I didn't work a full year and they calculated what I would earn in reality by the next April and paid me tax back before that date. Very helpful they were and it happened pretty quickly. |
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| Author: | forquare1 [ Fri Dec 04, 2009 11:52 am ] |
| Post subject: | Re: Getting tax back? |
Thanks everyone I need to dig out some paper work I think. Then I can see where I am
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| Author: | finlay666 [ Fri Dec 04, 2009 12:52 pm ] |
| Post subject: | Re: Getting tax back? |
All you need is the most recent pay slip really as it will show tax to date I need to do it too, I think I have been over taxed by about £500 |
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| Author: | l3v1ck [ Fri Dec 04, 2009 12:55 pm ] |
| Post subject: | Re: Getting tax back? |
+1 I'll be looking into it at the end of the year. Bare in mind that is you give your P45 to a new employer before the end of the tax year, they should sort it out by taking less tax off you when you work for them. |
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