Tax Refund Question

Ryse

Straight out of university, I'm new to this whole paying tax business so I have a few questions about this and if my calculations are correct. If I worked at a job that pays £280 a week for 35 weeks, I'll have earned £9800 before tax. Every week £59.33 would be deducted, which means in total I'd have to pay £2,076.55 income tax.

Am I right in thinking that after 35 weeks of working and quitting with no intent to work for the rest of the tax year, I can get a refund of that £2,076.55? I've read that it is possible if I submit a P50 application and confirm I do not intend to work for 4 weeks. But what if after submitting that I decide I want to work again, and end up working after 2 weeks?

After successfully getting a tax refund and then working elsewhere again during that tax year, I assume the total amount of tax I will have to pay depends on my total income from the first job (the one I collected a tax refund from) and second the job I take up. What if my second job I work part time and earn £56 a week, am I correct in assuming no tax will be deducted? I assume if my total earnings from both jobs exceeds £11,000, I'll have to fill out a tax return.

Will I be informed by DWP that I need to fill in a tax return, or do I have arrange this myself?

Thanks in advance!

chrisbur

Ryse wrote: »

Straight out of university, I'm new to this whole paying tax business so I have a few questions about this and if my calculations are correct. If I worked at a job that pays £280 a week for 35 weeks, I'll have earned £9800 before tax. Every week £59.33 would be deducted, which means in total I'd have to pay £2,076.55 income tax.

Am I right in thinking that after 35 weeks of working and quitting with no intent to work for the rest of the tax year, I can get a refund of that £2,076.55? I've read that it is possible if I submit a P50 application and confirm I do not intend to work for 4 weeks. But what if after submitting that I decide I want to work again, and end up working after 2 weeks?

After successfully getting a tax refund and then working elsewhere again during that tax year, I assume the total amount of tax I will have to pay depends on my total income from the first job (the one I collected a tax refund from) and second the job I take up. What if my second job I work part time and earn £56 a week, am I correct in assuming no tax will be deducted? I assume if my total earnings from both jobs exceeds £11,000, I'll have to fill out a tax return.

Will I be informed by DWP that I need to fill in a tax return, or do I have arrange this myself?

Thanks in advance!

Need a bit more detail.
Have you actually been working at £280 a week and paying £59.33 as this would suggest you have a K code so would need to know details of this to know your tax position. Or is this just a hypothetical case and you have mis-read a tax calculator as £59.33 is the tax figure per month on £280 a week.

Also would need to know the dates of working as you seem to be assuming that all this would happen in one tax year.