P85 Tax form
Hi Guys
i have been informed you can claim tax back if moving abroad. Can anyone advise what you acutally get back from them ? Is it all the tax you have paid up until leaving the UK from April. Just another thing i never new about and a great little bonus we never thought of Thanks again ExPats Mick:):):):) |
Re: P85 Tax form
Originally Posted by mickpower75
(Post 8769413)
Hi Guys
i have been informed you can claim tax back if moving abroad. Can anyone advise what you acutally get back from them ? Is it all the tax you have paid up until leaving the UK from April. Just another thing i never new about and a great little bonus we never thought of Thanks again ExPats Mick:):):):) ** Unless there are visa certain issues I dont know about (I came here as a citizen) |
Re: P85 Tax form
UK tax is paid pro rata. They obviously assume that you will work the whole tax year (April-April) and earn your salary in that year. Therefore, you pay that tax over the whole year. But you don't pay tax on the first £7000 odd (not sure on exact figure) you earn.
Therefore, say you're salary is £25,000 a year. You pay about £315 tax a month roughly. But if you leave the country after only working say 5 months of the year, and you've only earned £10,500 you would have paid way too much tax in that time. So they'll give it you back. Could even get about £1,000 back!!! :thumbup: Does anyone know what you're meant to put regarding the pension part?? I have 2 private pensions, but I won't be paying anything in to them anymore. Does that matter?? |
Re: P85 Tax form
Originally Posted by mickpower75
(Post 8769413)
Hi Guys
i have been informed you can claim tax back if moving abroad. Can anyone advise what you acutally get back from them ? Is it all the tax you have paid up until leaving the UK from April. Just another thing i never new about and a great little bonus we never thought of Thanks again ExPats Mick:):):):) http://britishexpats.com/forum/showthread.php?t=678301 BB |
Re: P85 Tax form
Originally Posted by Buzzy--Bee
(Post 8774467)
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Re: P85 Tax form
I am just filling in our P85, Can anyone confirm that if I put the total rental income does that mean the profit after I have paid my Mortgage? Or the full rental before any deductions?
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Re: P85 Tax form
Originally Posted by VixMelbourne
(Post 8796919)
I am just filling in our P85, Can anyone confirm that if I put the total rental income does that mean the profit after I have paid my Mortgage? Or the full rental before any deductions?
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Re: P85 Tax form
ok - thankyou! :thumbup:
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