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P85 Tax form

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Old Aug 11th 2010 | 3:00 am
  #1  
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Default 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
 
Old Aug 11th 2010 | 3:25 am
  #2  
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Default Re: P85 Tax form

Originally Posted by mickpower75
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
You can get "some" back. Some will be different for everyone and when you left the UK tax year, but yes, you can get tax back for your last year in UK.
** Unless there are visa certain issues I dont know about (I came here as a citizen)
 
Old Aug 11th 2010 | 3:29 am
  #3  
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Default 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!!!

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??
 
Old Aug 12th 2010 | 10:35 pm
  #4  
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Smile Re: P85 Tax form

Originally Posted by mickpower75
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
This thread might help you -

http://britishexpats.com/forum/showthread.php?t=678301

BB
 
Old Aug 12th 2010 | 11:29 pm
  #5  
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Default Re: P85 Tax form

Originally Posted by Buzzy--Bee
That thread will DEFINITELY help you lol...and a lot more than just tax!
 
Old Aug 23rd 2010 | 3:43 am
  #6  
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Default 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?
 
Old Aug 23rd 2010 | 4:50 am
  #7  
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Default Re: P85 Tax form

Originally Posted by VixMelbourne
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?
I would have thought if its asking for "total income" it would be the full rental income as its all income for you. Its only after you get the income that you spend it on the mortgage.
 
Old Aug 23rd 2010 | 4:54 am
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Default Re: P85 Tax form

ok - thankyou!
 

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