Tax rebate

mack22_2

Hi
I am new to this forum,and this is my first post .I am 64yrs old and i intend to retire in October 2009.I have heard on the grape vine that i may be entitled to a tax rebate for the year from April 2008 to Oct 2009 .Is this correct ,if so how do I claim it.
Can someone please advise .
Thanks .

CLAPTON

If your work between april 2009 and october 2009 and then have no income then you would be entitled to a tax refund as you would have paid too much tax.

However, when you retire, then presumably you will have an income (pension) so a refund may or may not be available depending upon your income(s).


gives us the figures and we may be able to help.

Mikeyorks

Too little information, I'm afraid.

But I do suspect the 'rebate' will actually be a reduction in your tax wef from April 09. As you should be entitled to the age related allowance of £9490 (instead of £6475) from the start of the year in which you are 65. But the age allowance is reduced by £1 for every £2 your income exceeds £22900 .... and that includes pay / pension / State Pension.

As I don't know those figures - can't help further? But you should check your P2 (Coding Notice) for 09-10 (in the process of being issued by HMRC in Jan / early Feb) to ensure you have the enhanced PA of £9490 .... as a starter.

whitfreak

Do you currently fill in a self assessment form? If you do then I'd guess that would ultimately even out your tax bill. Although you might need some suplimentary pages.