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donniemateno
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Joined: 01 May 2011
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PostPosted: 06:17 - 02 Apr 2012    Post subject: tax question Reply with quote
i know i might be laughed at for this but from googling i want to confirm this

i currently work full time and my contract runs out in october 2012. what i want to know is when i finish in october the tax ive paid will i have to wait till april 2013 to get a tax rebate ( which is what ive found googling)

or could i get it sooner?

I know if I jump into another job I should get some form of tax back / tax relief
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daemonoid
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Joined: 27 Jun 2008
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PostPosted: 08:25 - 02 Apr 2012    Post subject: Reply with quote
You can get it back nearly straight away, call your local tax office and they'll help out.
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yambabe
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Joined: 12 Jul 2004
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PostPosted: 08:37 - 02 Apr 2012    Post subject: Reply with quote
It depends what sort of contract you are doing and what you do after your contract ends.

If you move straight to another contract or job you probably won't be owed any rebate.

If you don't work for a while there are several options.

If you are classed as self-employed or have your own company you won't get any rebate til you submit your tax return for 2012/13.

If you are employed (directly or via an umbrella) you need to make sure you get a P45. If you sign on, JSA is taxable so if you give your P45 to the DWP you should get some tax back via them.

If you don't sign on and just live off your savings/partner/parents etc then you will also probably have to wait til the following April to claim any rebate as HMRC will not know if you have done any further work til then.

If you have a break then go back into work then you should get and tax overpaid back in your pay packet if you give your new employer your P45.

HTH.
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donniemateno
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PostPosted: 08:39 - 02 Apr 2012    Post subject: Reply with quote
ill be back at uni so ill be a full time student. so i dont know if that makes any difference?
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yambabe
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Joined: 12 Jul 2004
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PostPosted: 08:45 - 02 Apr 2012    Post subject: Reply with quote
donniemateno wrote:
ill be back at uni so ill be a full time student. so i dont know if that makes any difference?


Depends if you are intending doing any other work whilst at Uni.

There used to be a student declaration you could use where if you were just working during the holidays or part-time you signed the form then didn't pay any tax til you reached total earnings of that year's tax allowance (then paid 20% on everything after that) but they kind of quietly dropped that a few years back.

If you are not intending to work again before April 2013 you will need to take your P45 to HMRC and ask them.
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donniemateno
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PostPosted: 09:00 - 02 Apr 2012    Post subject: Reply with quote
i would like to work ideally but with the ways things are I cant see myself getting a job till i finish at uni ( and hopefully pass) and get a job back where i work now

I will be getting a project to do at uni which I will be getting paid for . Im assuming this will be classed as work
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