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  • Quick income tax question
  • Duane…
    Free Member

    Hi all,

    On a 6 month internship, it started in January, and finishes start of July.

    Up until April, I was able to claim my tax back, as I earnt less than the ~£9k minimum last tax year. From April til July, I am being taxed. I’m heading back to uni next year, so this tax year I won’t earn over the limit either.

    Is there anyway I can not be taxed for now, and then if somehow I earn above the ~9k before next April I will just be taxed on that amount?

    If I were to work for a full year, I would be above the ~9k.

    (I know, ring HMRC and ask, but it would be nice to have a bit of knowledge before)

    Thanks,
    Duane.

    trail_rat
    Free Member

    If you earn over the thresh hold each month but dont work for the whole year.

    you can claim it back after the event ….. for the reasons you describe above , you might change your plans and not tell hmrc then they have the hassle of getting money out of you, where as just now its you that has to nail them down .

    Duane…
    Free Member

    By after the event do you mean once I have finished the placement, or next April?

    trail_rat
    Free Member

    next april i think , although i did work in one job where i didnt earn over the threshold so they repaid me all my tax in my last pay packet. – that was nice

    If you think this sucks try being taxed on your per diem. i get 32 quid a day subsistance money when i work abroad- and get taxed on it like its my wage…. coonts – HMRC say supply reciepts and we will give you a tax rebate to the value of actual expenses…. ever tried getting a reciept at an african hole in the wall restaurant ?

    Duane…
    Free Member

    From the HMRC site, it seems I might be able to claim back once I finish working (rather than waiting til April).

    http://www.hmrc.gov.uk/incometax/stop-work-refund.htm


    If you’re unemployed for at least four weeks or you retire or return to studies

    If you think you’ve paid too much tax, you’ll need to claim a tax refund from HMRC if any of the following applies:
    •you’ve been unemployed for at least four weeks
    •you stopped working because you’ve retired and you’re not getting a pension from your old employer
    •you’ve returned to studying

    You can claim a tax refund by filling in form P50 Claiming tax back when you have stopped working. Send this to HMRC, together with form P45, Parts 2 and 3 – and keep Part 1A for your own records.

    HMRC will send you any tax refund you’re entitled to by post. They’ll also send you a new form P45, Parts 1A, 2 and 3, if necessary.

    If you retire and get a pension from your old employer, you’ll get back any refund you’re entitled to with your pension payments. You won’t need to claim a tax refund using form P50.

    If you were made redundant contact HMRC before filling in form P50 and they will tell you what other information you need to provide.

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