Hi folks, wondering if anyone could help me with a wee problem. I heard somewhere that as I am going away travelling for a year to 18 months that I could claim back all tax paid this tax year. Is this true?? And if so how would I go about doing it?? Cheers!!!
2007-08-14 22:16:49 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Thanks everyone, up until now I have been earining £1385 per month before tax and have been taxed £300 of that per month, does anybody have an idea how much i would be looking at receiving back?? Also how quick is the process from applying to receiving an answer. Cheers!!
2007-08-15 00:29:32 · update #1
You don't need to use a reclaim company, its very easy and straightforward. You won't necessarily get all your tax back, it depends on how much you have earnt from 6 April until you leave the counyt, but you will be entitled to something.
Go to www.hmrc.gov.uk and downlaod a form P85. Fill this in and send it to your tax office with the P45 which you will receive when you finish work. You can have the refund via cheque or payment direct to your bank account.
Any probs, ring the Tax helpline or call in at your local tax enquiry centre - they dont bite.
2007-08-14 22:32:53 · answer #1 · answered by fengirl2 7 · 0⤊ 0⤋
Not as simple as others say. If you go abroad for the rest of a tax year (ends on April 5th each year) then the income you earnt until you left is counted as your annual income. If you pay under deduction (PAYE) your free of tax allowances are averaged over the year but you will be able to set the "unused" part against the earlier income. So if you earned £2000 a month and had the standard code and left half way through the year you would have had paid tax of about £2065 but you now get a refund of about £575. The NIC deduction is paid on a weekly or monthly basis so that doesn't get refunded.
When you come back you start where ever in the year it is are so 18 months on from the example would be a new tax year anyway. If you return in mid-year you already have half the allowance to use up before any tax can be deducted so it might be worth making that 2 years absence?
2007-08-15 05:30:06 · answer #2 · answered by morwood_leyland 5 · 0⤊ 0⤋
I'd talk to your local tax office - they are actually very helpful these days!!
2007-08-15 05:21:42 · answer #3 · answered by Sal*UK 7 · 0⤊ 0⤋
I run a tax refund agency, no win no fee, yes you can claim if you are leaving the country.
taxrefunds@yahoo.co.uk
2007-08-15 05:21:10 · answer #4 · answered by Anonymous · 0⤊ 2⤋
tax.gov.uk
2007-08-15 05:20:19 · answer #5 · answered by Anonymous · 0⤊ 0⤋