Redundancy and tax rebate?

wellused

If a person who was a standard rate taxpayer were to be made redundant at the end of this year and failed to work again until after the end of this tax year in April, would they be entitled to receive a tax rebate?

McKneff

It depends really, I would think there is another 3 months January, Feb and March, where you could be working again or claiming benefits so I believe you would have to wait till April to apply for a tax rebate.

However, if you started back to work say in February, your tax would be sorted and any refund (because you have untaken allowances in January) will be given through payroll at your new job.

clivejohnson

McKneff wrote: »

It depends really, I would think there is another 3 months January, Feb and March, where you could be working again or claiming benefits so I believe you would have to wait till April to apply for a tax rebate.

However, if you started back to work say in February, your tax would be sorted and any refund (because you have untaken allowances in January) will be given through payroll at your new job.

...which is exactly what happened to me in 2007/08. was made redundant in the october 07 and didn't work again until january 08 and had an extra £200 or so.

getmore4less

If you plan not to work or claim JSA do a P50.

http://www.hmrc.gov.uk/incometax/stop-work-refund.htm

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

wellused

Thanks for that it looks like my pension provider will sort it out if I have overpaid tax.

Bigmoney2

When I retired in December 09, i recollect receiving a form to fill in (think it came from company pension dept.) You almost certaily will be due a rebate as HMRC will have assumed when collecting your tax, that you would be working a full financial year.

I think mine arrived around august/sept the following year