Need advice on Tax Rebates

lilsusie

Hi im new to tax money etc i only recently just finished uni and got a full time job on a monthly salary rather than per hour.

I was working per hour recently and i seemed to be being taxed quite highly ( i want being taxed before because of my student status).

Alot of my friends are bragging about money they have got back from tax recently ?

How do i do this ? Thanks

alwaysonthego_2

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loobyloo0302

you need a P50 form from your local tax office

chrisbur

A P50 can only be used if you are currently unemployed and not claiming job-seekers. From your post you appear to be employed at the moment. If you can post what your current tax code and tax basis is, along with details of all taxable earnings and tax paid advice can be given.

trevormax

Being a student has no affect on what tax you pay unless you're just doing a holiday season job (like in the summer holidays) and you fill in a fom P38(S). The form P38 is only used because a student who only works in the holidays is not expected to earn enough to go over the personal allowance and the P38 saves the student time by preventing them paying tax which they would later have to claim back.

You say you were being taxed a lot in your last job. Do you know what your tax code was in this job? If it was BR then it is possible you were being taxed too much and you can get some of that money back. If your current job has a cumulative tax code then you should get any overpaid tax back automatically in your wages. If you are on an emergency code (such as 647L W1/M1) then you can either contact HMRC and ask them to issue a cumulative code, or wait till the end of the tax year and claim a tax rebate from HMRC.

Chris is correct. A P50 is only to be used if you stop employment part way through the tax year and do not expect to be getting any taxable income or starting work/claiming a taxable benefit (such as JSA) in the next 4 weeks.

Also, I have learned not to listen to bragging from friends as more times than not they are incorrect. Everyones circumstances are different and what might be correct fro a mate can be wrong for you.