Moving from Full time work back to Student-dom - what do i do?

confusedactor

I'm moving back to life as a student this october (my last paycheck is September) and just wondered if this will mean i qualify for some tax back as i wont have earned a full year salary? My wage was £19,500 for the year before tax. Also is there anything i need to so - people i need to inform or anything? I've asked for my p45, but not sure what i need to do with it. I'm a bit worried that somewhere along the line i will have forgotten to do something, and get stung for lots of money that i don't have! Any advice very much appreciated.

Lokolo

- http://www.hmrc.gov.uk/pdfs/p50.pdf

Download and print that form.

Send parts 2 and 3 off with the filled in P50 to your tax office which you can find out here
- http://search2.hmrc.gov.uk/kbroker/hmrc/locator/locator.jsp?type=1

There will be a 3 digit code on your P45, e.g. 663 for Portsmouth, just type that into the form.

You won't get a refund until 4 weeks after you have left the job.

Oldernotwiser

You've worked for 6 months at an annual salary of 19,500 so you will have earned well in excess of your personal tax allowance. I don't think that you will be eligible for a refund, sorry.

WillowCat

Oldernotwiser wrote: »

You've worked for 6 months at an annual salary of 19,500 so you will have earned well in excess of your personal tax allowance. I don't think that you will be eligible for a refund, sorry.

The personal tax allowance is allocated pro-rata during the year on PAYE, so, unless the OP is planning on further employment before the end of this tax year there will definately be a tax refund due.