Tax Rebate

dani87_2

Hi, Does anyone know anything about being entitled to a tax refund or rebate before leaving the UK to go on a working visa?

I'm off to Australia soon and I've been told I can get a tax refund before I go which could mean 50% of what tax I've paid since the beginning of this tax year.

Also, trying to work out if I would be entitled to the largest amount I could get if I apply for it before the end of this tax year - April 5th

Help much needed!

Thanks

sarahk100574

Lots of variables... how much have you earned this year? When are you leaving? As it is now month 10 of the tax year you may not have too much to be refunded really. Like I said, lots if variables and need figures to work it out sorry!

dani87_2

Thanks Sarah...that's what Im trying to work out. Im leaving 10th May but wondering if it would be better for me to apply before 5th April end of tax year. Well going by payslips ive paid about 3 grand in tax this year...would I be best to go to Citizens Advice Bureau or somehwere to enquire?

chrisbur

dani87 wrote: »

Thanks Sarah...that's what Im trying to work out. Im leaving 10th May but wondering if it would be better for me to apply before 5th April end of tax year. Well going by payslips ive paid about 3 grand in tax this year...would I be best to go to Citizens Advice Bureau or somehwere to enquire?

What is required is your taxable gross, tax paid and tax code number, from your P45 or if not yet recieved your last payslip. The rebate you get will depend on how mutch of your tax allowance has not been used, so if for example you left month 10 and were on 747L you have 2/12 of £7475 not used which is £1245.83 which assuming in 20% tax band gives a rebate of aprox £249.

sarahk100574

So when do you actually finish work and receive your final pay? It really does depend on this!

PoorCharleyBear

tax rebate is only applicable where you have overpaid tax.

So if you start working in (say) May and you are on a salary of £25,000 and taxed at £400per month- this is based on the fact that you are assumed to be earning that amount right around til April (end of tax year), So based on the expectation of earning something like £21,470 in that tax year.

You get a personal allowance of approx £7,500- the amount you can earn before you pay tax (but in reality this is apportioned across the year)

If you then stop working and go overseas before end of tax year, you will get a rebate. So if you stop working in October, you have only worked 6 months of the tax year, and should therefore only pay tax on something like £10,735. The rebate would calculate that you should have only paid tax on around £3,275.

If you work til April/end of tax year, you will not get a rebate.
If you continue working into the next tax year, you will get a small rebate based on the amount earned in the new tax year.
You are better off leaving the country a fair way into the new tax year!!! (and May is heading into winter in Australia)