Income Tax

Cheetah

Hi there,

Recently I reclaimed tax back for the last financial year.

I just quit my job and won't be getting another job for at least a year and was wondering if I have to wait until the next financial year to claim the tax back that I have earned in this financial year?

fengirl_2

if you are claiming JSA, then the JOb Centre will make your tax refund when you sign off, or on 5 April, whichever comes first. This is because JSA is taxable and needs to be taken into account in calculating any refund.
if you are not going to claim, then you download form P50 from www.hmrc.gov.uk and send it in with your P45.

Cheetah

Will be going to uni so won't be claiming JSA.

Thanks - will do that.

Cheetah

Am I right is saying that if I do go back to work at Xmas or next summer that I won't get taxed as I am at university?

Lokolo

Cheetah wrote: »

Am I right is saying that if I do go back to work at Xmas or next summer that I won't get taxed as I am at university?

It depends how much you earn and how often you get paid.

Tax is based on a pay as you earn basis. So if you earn £1000 in a month you will be taxed, even if you don't work throughout the rest of the year. But you can claim is back.

If I were you I wouldn't be claiming back tax until end of tax year if you are planning on getting a job inbetween now and next tax year.

Ray_Arman

Am I right is saying that if I do go back to work at Xmas or next summer that I won't get taxed as I am at university?

It is true that students who work only in holidays have special rules for tax, but since you have worked during other times in the tax year then these rules do not apply to you and you will be taxed as normal.

aurora01_2

not sure if anyone can help me. I was made redundant in June and have not claimed JSA or anything since (apart from the statutory redundancy payment). I am going to work for myself now but I dont think I will be able is issue any invoices for at least another 4 weeks. Should I submit a P50 to see if I can get anything back (I used to be in the higher rate tax band).

Thanks