Made

Kpowell911

Hello there. This is my first post and Im not exactly sure Im in the right section.

I was recently made redundant from my management role in a supermarket on June 9th. All my wages and redundancy has been paid out to me.

Im taking this opportunity to start my own business.

I applied for Universal Credit, the job centre were very helpful And was successful in getting on the New Enterprise Allowance scheme which gives me £65 a week for 13 weeks.

I registered as a sole trader on the 23rd of July. Ive not yet earnt a penny as its obviously a slow start. Ive not yet earnt a penny. But work is planned in. Im expecting my first payment once Ive sent customers an invoice around the end of August.

Ive earnt £11,905 from my Previous Employee between April - June. Ive paid £1600 tax. It was my understanding that I could claim this tax back using a P50 as I wouldnt be sending my self assessment off till 2019?

I sent my p50 off on the 17th July and Ive just had a fairly basic reply saying Im not due a rebate try again in a few months.

Other people in my situation who left at the same time as me have had a positive reply and are getting the money back.

My only difference is Ive registered as a sole trader, where as they havent and arent working. I was also on Universal Credit but I was told that wasnt a taxable benefit.

I may have read everything wrong and im not entitled to this rebate? Im not expecting to continue earning anywhere near the rate I was earning in those 3 months as there was PILON in it, so I will have paid too much tax even when I fill my return in?

Can anyone shed any light on this situation?

I thought it would be a simple case of getting my refund (was hoping to put it towards my van) and would pay a tax bill at the end of the year?

Comms69

You aren't due a rebate until April 2019.


Your first self assessment isn't due until Jan 2020.

Kpowell911

Thank you for the prompt reply.

How are my colleagues receiving confirmation of refunds if its not due till April?

Comms69

Kpowell911 wrote: »

Thank you for the prompt reply.

How are my colleagues receiving confirmation of refunds if its not due till April?

honestly no idea.


Are they not expecting to work at all this year?


I've just received my rebate - today - for last year.

Kpowell911

Theyre not intending working for the rest of the year no.

But I thought in theory it wont appear Im working until I do my self assessment?

marlot

Kpowell911 wrote: »

Theyre not intending working for the rest of the year no.

But I thought in theory it wont appear Im working until I do my self assessment?

I thought you said you'd informed HMRC that you were now self employed?

Kpowell911

Hi Marlot. Yes Ive officially told HMRC ive gone self employed now. But hadnt (as I wasnt yet trading) when I filled in the P50?

Kpowell911

Ive clearly got the wrong end of the stick and misunderstood everything. Guess im just majorly out of pocket for now