Soldato
- Joined
- 24 Aug 2005
- Posts
- 4,065
- Location
- Uranus
Gf is due a £15000 tax rebate from when she was doing her phd, she was a trainee psychologist if you train and work at the same time your earnings are tax free apparently.
TAX REFUNDS!!!!
- Thread starter Diddums
- Start date
Deleted member 66701
Deleted member 66701
How much tax were you paying that you didn't notice/care you were overpaying by nearly six grand?!
Severence payment - first £30k is tax free but at the point of payment it's always taxed so you have to claim it back.
Not at all the case. Your stipend is tax free, any earnings are taxed as normal.
It isn't always taxed - not sure where you got that from.
Deleted member 66701
Deleted member 66701
Sorry yeah. You're more likely to be overtaxed if your severance payment falls near the beginning of the tax year, as mine was.
Can you elaborate on this? My wife's doing a PHD in psychology too, whilst working. Might be worth looking in to that too.
Soldato
- Joined
- 28 Oct 2003
- Posts
- 5,510
- Location
- Worthington-on-sea
I've been made redundant twice and wasn't charged tax at the time of payment on either. Again, a competent payroll dept/system makes all the difference.
Yea, I have to say you were done incorrectly there amigafan, the redundancy pay should have been given tax free, irrespective of when in the tax year it was.
Other things are taxable, like holiday pay or time in lieu when receiving your final payment, but the redundancy pay itself should have been classed as tax free.
I hope you didn't pay NI on it as well.....
Other things are taxable, like holiday pay or time in lieu when receiving your final payment, but the redundancy pay itself should have been classed as tax free.
I hope you didn't pay NI on it as well.....
Yea, if he's quoting the tax free figure of £30k, then it's tax free, not taxed to then be reclaimed at the end of the financial year
It will be related to the amount over 30K I suspect.
Soldato
- Joined
- 24 Aug 2005
- Posts
- 4,065
- Location
- Uranus
http://www.clinpsy.org.uk/forum/viewtopic.php?f=10&t=18274&start=105
Shes had to claim as an individual because the uni wont do it as a group course thing but people on her course have already been successful in claiming tax and ni back.
Edit:she was working full time as a band 5 psychologist whilst doing her phd if that makes a differance.
Last edited:
Deleted member 66701
Deleted member 66701
Were your redundancy payments more than £30k?
All of it? Only the first £30k is tax free. I didn't pay any tax on that part. I did pay tax on the rest though because the payment was made early in the tax year (i.e. that's just how PAYE works). That's the bit I claimed back with a P50.
Yeah. I've just read back my original post - it was badly worded on my part - apologies.
Last edited by a moderator:
Be glad you aren't in USA where they don't really have a PAYE system and you have to do tax returns every year. Most people over-pay to avoid the underpayment fines then get a big refund at the end of every tax year, giving the government an interest-free loan during that time. On top of itemised deductions (optional) and all sorts of other weird stuff.
*is moving to USA in a couple of years*
HMRC have stated they don't want people using them as a savings account specifically... Just as well as they screw up the most simple of tax affairs
Checking my records from past years, HMRC have always sent me letters every August to tell me if they owed me money (with a cheque) or if I owed them more tax (they take it via PAYE the next tax year).
So I'll just wait for this year's letter.
i.e. you don't HAVE TO call them to get a refund; they should be letting you know every year anyway.
So I'll just wait for this year's letter.
i.e. you don't HAVE TO call them to get a refund; they should be letting you know every year anyway.