Tax back

[NotAGolf]

I just received some money back from the tax man and I have no idea why. I'm at uni and I only work during the summer, so at the end of last summer I went to the tax office and reclaimed all the tax I paid because I was under the threshold.

Now about 2 months later I receive this new cheque, it's £90 odd pound compared to the £300 odd that I got a few months ago (the £300 was correct), so it's not like they paid me twice accidentally.

Any ideas what could be wrong? Have they just made a mistake or could it be valid, i.e. money owed from a long time ago?

Thanks for any help

 

[Spend_day]

hmmmm free money


keep it

 

[rick827]

When you earn money, they make a presumption you will earn the same amount each week/month for a full tax year. They use this annual figure to calculate your estimated tax and charge you 1/12th of it each month. Now, if you just work for 6 months you dont earn this annual figure and owe less (probably no) income tax, thus they pay it you back to balance it up. The 2nd payment will just have been another balancing payment

 

[AtreuS]

If you think its money you shouldnt be due then you can book an appointment at the local tax office and you can lay it all in the line and someone will give you a definate answer. As long as you have nothing to hide then the tax people arent to be feared.

 

[tres]

When you earn money, they make a presumption you will earn the same amount each week/month for a full tax year. They use this annual figure to calculate your estimated tax and charge you 1/12th of it each month. Now, if you just work for 6 months you dont earn this annual figure and owe less (probably no) income tax, thus they pay it you back to balance it up. The 2nd payment will just have been another balancing payment

But if you're a student, and you fill in a P38(S), they shouldn't have charged you any tax at all - only changing your tax code to a 522L if you go over the threshold.

If you have your P45 from your job, feel free to email me your year to date figures and i'll give you an exact answer

(i'm a super payroll manager)

 

[weringo]

Just out of interest, do they take in to account the rate of inflation when they give you a tax rebate?

 

[chucky]

I need to claim back some tax, as i havnt been working all of the tax year.

I dont have all my P45 forms, (never got one from one of the places i worked)

Do they tax office have a record of this?

 

[tres]

Just out of interest, do they take in to account the rate of inflation when they give you a tax rebate?

no

 

[Bill101]

could it be you National Insurance contribution being returned?

 

[tres]

I need to claim back some tax, as i havnt been working all of the tax year.

I dont have all my P45 forms, (never got one from one of the places i worked)

Do they tax office have a record of this?

Firstly, go back to all of your old jobs and request your P45s
Though, if you kept your payslips, you should have this information

If they haven't given you them, small chance they haven't printed them - in that case, they wouldn't have sent part 1 to the IR.

First, request P45s
if no luck, speak to tax office
if tax office doesn't have details, then they request them officially from old job

 

[tres]

could it be you National Insurance contribution being returned?

you don't get NI contributions back

only if you opt out of the state pension and into a private one

 

[NotAGolf]

But if you're a student, and you fill in a P38(S), they shouldn't have charged you any tax at all - only changing your tax code to a 522L if you go over the threshold.

If you have your P45 from your job, feel free to email me your year to date figures and i'll give you an exact answer

(i'm a super payroll manager)

I didn't know about this P38 until I finished that summer so I paid tax like normal. I was earning around £200-250 a week o) and was paying about £20-30 tax on this. I did this for about 10 weeks so over the summer I paid around £300 in tax. This was stated on my p45 as "Tax paid to this date" or something along those lines.

Because I knew I wasn't going to work again until next summer I went in and asked to get the tax back now rather than wait til the end of the tax year. I filled in a couple of forms and got the £300 odd back, along with a new p45 with the "Tax paid to this date" field having £0 in it. Which is correct.

I also though about the NI paid but like trescodrucey said I didn't think you could get this back.

If I don't tell them about it now, could I get in trouble later on?

 

[tres]

Hmm, just to be uber safe, i'd ask them for the breakdown and calculations for this tax back

or, like me, enjoy it and hope they don't ask for it back.. if they do, it's only £90 but you've got a good chance its yours to keep!

 

[lolism]

I need to claim back some tax, as i havnt been working all of the tax year.

I dont have all my P45 forms, (never got one from one of the places i worked)

Do they tax office have a record of this?

Is this in the present tax year? If so you'll likely get the tax back through your employer. Either a rebate in your next payment or your tax will be reduced.

If you've left employment and won't be working again in this tax year I recommend you contact those employers and get all your P45's (your final one should have the figures from the previous jobs on it) and contact your local tax office!

 

[mks2005]

I realised recently that I should be getting a £600 rebate soon, woo!

As previously said, most likely just a balancing payment.