Tax rebate - I think I am entitled.. how and when?

monopoly_money

Thanks Jem for that!

ive just used the calculator to make sure my husbands P60s have the right amout of tax on them, they have! so does that mean there is no point in phoning the tax office to see if he is due a rebate, im not aufait with tax at all :rolleyes:

I dont work, would my husband be entitled to my tax allowance?

thanks
Phil

jem16

If the caclulator agrees with the P60 the it's unlikely a rebate would be in order.

No your husband cannot use your personal allowances I'm afraid.

monopoly_money

Thanks again Jem! :beer:

Bean_Counter

monopoly_money wrote: »

Thanks Jem for that!

ive just used the calculator to make sure my husbands P60s have the right amout of tax on them, they have! so does that mean there is no point in phoning the tax office to see if he is due a rebate, im not aufait with tax at all :rolleyes:

I dont work, would my husband be entitled to my tax allowance?

thanks
Phil

It might be worth looking at transferring any savings etc to your name so that you could then claim interest gross of tax. Same if you have any shares, could then claim back tax deducted on dividends.

CLAPTON

you can't claim tax back on share dividends although you can avoid higher rate tax

desouza70

jem16 wrote: »

So you paid about 9% commission to them for doing something that HMRC would do for nothing?

There is no need to use any company to get your refund. Simply phone or make an appointment at one of the tax enquiry offices and provide the necessary details.

But isn’t that the equivalent of saying: "There is no need to pay a financial advisor to put your money into a mutual fund, do the necessary research and you can do it yourself".

Dealing with the Inland Revenue can be quite a complicated procedure, especially for people who do not know what they are doing. If you do not have your P60s or P45s they make you fill in a number of forms and they make it very hard to follow up as they are invariably back logged.

At the end of the day, you get what you pay for, if you want to do something yourself and you do not know what you are doing then it is quite possible it will take much longer and you won't get as much money back.

Surely it’s better to have 90% of something then 0%.

jem16

desouza70 wrote: »

But isn’t that the equivalent of saying: "There is no need to pay a financial advisor to put your money into a mutual fund, do the necessary research and you can do it yourself".

I would be looking for more from my IFA than a recommendation to put my money into a mutual fund.

Dealing with the Inland Revenue can be quite a complicated procedure, especially for people who do not know what they are doing. If you do not have your P60s or P45s they make you fill in a number of forms and they make it very hard to follow up as they are invariably back logged.

I have dealt with HMRC on quite a few occasions. I have found them very helpful and very knowledgeable. Even when my son managed to lose his P60, they happily accepted his end-of-year pay slip which included all the year's totals. Within 2 weeks he had his rebate. I am not a tax expert - far from it.

At the end of the day, you get what you pay for, if you want to do something yourself and you do not know what you are doing then it is quite possible it will take much longer and you won't get as much money back.

Surely it’s better to have 90% of something then 0%.

Yes it is. However usually you are still required to provide all the necessary details to a company that you would need to provide to HMRC anyway.

Of course to make it even easier, keep a hold of all important documents like P60s and P45s.