Help!! Advice needed!!

Elmly · 31 January 2015 at 6:29PM

I have around 8k of debt and am definately going to be owed a tax rebate... do I claim now and get my tax codes sorted and potentially not pay tax until April or do I wait until April to get it sorted and get a nice cheque come through (from what I have calculated around £1000)

Elmly · 31 January 2015 at 10:28PM

Anyone...?

nottoolate · 31 January 2015 at 10:29PM

its quiet here on a saturday night.

Kittycat1981 · 31 January 2015 at 11:06PM

It depends on the interest on your debts and will you still be paying interest until April? If so, sort it now and use the "tax free" months to pay it off your debt.

Wicked_Lady · 1 February 2015 at 5:14PM

If you know that you're definitely owed a tax refund then I would phone the tax office now.

Are you currently working and paying tax? If so the Company will be sent a copy of your revised tax code and can refund you before the end of the current tax year. No need to mention to HMRC what you intend to do with the money!

This happened to me in November, when I realised that even if I worked full time until the end of March I would still be below my tax threshold and it was all sorted fairly easily.

Elmly · 1 February 2015 at 9:18PM

Yea I currently work 2 jobs. I was on a higher wage therefore being taxed more until I got made redundant. When I started my new job (sept) I went on br tax code and have never changed it. I started job 2 a few weeks ago also on br tax code. Will earn by April around 15k gross across the three jobs but have already paid £1600 in tax. Where I'm on br tax code for both jobs I'm overpaying too.

Kinda want to sort it out but also feels like I'm doing more when In April I put one large sum towards one particular debt

Help!! Advice needed!!

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