Claiming back 'year in industry' tax?

matt_31313

Hi

I am currently taking a 'year in industry' (or sandwich year) in the middle of my university course. My salary for the year is £14,000 and the year runs August-August whereas the Tax year runs April - April.

This means that for the 2007-08 tax year i will be earning about £5800 but i think that i can earn up to £5,035 tax free. Does anyone know if i will be able to claim back most of the tax that I am now paying between April and August 2007?

Cheers

retepetsir

They'll automatically refund you/give you that amount back.

I'm also on my year in industry

matt_31313

Cheers retepetsir

When you say automatic im guessing that means i dont have to fill in any forms?

Do you know exactly when and how (is it through my company or directly) they pay it back?

Broke_Student

I always thought that when they 'pay you back' automatically they do it by charging less tax on the next year.

If you think you will not be paying that much tax the next year then you can get a refund by sending your P45/P60 (showing your total income for the year) to the Tax Office.

Ytaya

You can give the Inland Revenue a call when you finish your placement in August and tell them a) you're done working for the tax year and b) how much you earned. They'll send you a simple form (it's just a page or two), you return it, a couple of weeks later you get your cash. I was very pleasantly surprised at how easy it was