Tax rebate

Old Aug 9th 2007, 8:38 am
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Question Tax rebate

I am due to finish work on the 31st Aug and I am going to try and get a tax rebate back so will be sending of my P85 a.s.a.p. Does anyone know how quickly this is paid out once you've applied? Will I have to wait until the tax year finishes i.e. next April?
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Old Aug 9th 2007, 9:51 am
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Default Re: Tax rebate

Hi I can't answer this from first hand experience but I did read on one of these sites that it was about 8 weeks in some cases and one person had their rebate back in their final pay payment from employer. I get the impression that you don't have to wait until the new tax year.
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Old Aug 9th 2007, 7:16 pm
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Default Re: Tax rebate

In simple terms when your employer calculates your payment due to the HMRC, they have divided your non taxable allowance by 52 weeks. Each week (or usually month) they will calculate the payment over, based on what you have earned over the allowance. They also estimate what they expect you to earn over the tax year, so they know what rate to tax each part of your pay at. The more you earn, the greater the percentage of tax.

If you cease employment you are due money back, as you have not earned any income. (I had a nice rebate last month while I was on extended maternity leave) and your top end salary may be taxed at a lower rate, as you fall in a lower band of income.

However, unless you want to put in lots of claims (every month), it is probably better to wait till the end of the tax year and submit one claim. You can get a form from the HMRC website to fill in. I don't think they would pay you back in advance for the months which have not yet passed as you could (a) get another job (b) die!

I don't work in payroll, but I do work in Finance and this is how I see it. Best bet however is to just drop them an email and ask.

Amanda
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Old Aug 9th 2007, 7:21 pm
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Default Re: Tax rebate

Originally Posted by Amanda Jayne View Post
In simple terms when your employer calculates your payment due to the HMRC, they have divided your non taxable allowance by 52 weeks. Each week (or usually month) they will calculate the payment over, based on what you have earned over the allowance. They also estimate what they expect you to earn over the tax year, so they know what rate to tax each part of your pay at. The more you earn, the greater the percentage of tax.

If you cease employment you are due money back, as you have not earned any income. (I had a nice rebate last month while I was on extended maternity leave) and your top end salary may be taxed at a lower rate, as you fall in a lower band of income.

However, unless you want to put in lots of claims (every month), it is probably better to wait till the end of the tax year and submit one claim. You can get a form from the HMRC website to fill in. I don't think they would pay you back in advance for the months which have not yet passed as you could (a) get another job (b) die!

I don't work in payroll, but I do work in Finance and this is how I see it. Best bet however is to just drop them an email and ask.

Amanda
I'm interested in this too, and your reply seems to cover all the points.

However, about halfway through you started to type in Mandarin, and i completely lost you
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Old Aug 9th 2007, 7:22 pm
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Default Re: Tax rebate

Originally Posted by Amanda Jayne View Post
In simple terms when your employer calculates your payment due to the HMRC, they have divided your non taxable allowance by 52 weeks. Each week (or usually month) they will calculate the payment over, based on what you have earned over the allowance. They also estimate what they expect you to earn over the tax year, so they know what rate to tax each part of your pay at. The more you earn, the greater the percentage of tax.

If you cease employment you are due money back, as you have not earned any income. (I had a nice rebate last month while I was on extended maternity leave) and your top end salary may be taxed at a lower rate, as you fall in a lower band of income.

However, unless you want to put in lots of claims (every month), it is probably better to wait till the end of the tax year and submit one claim. You can get a form from the HMRC website to fill in. I don't think they would pay you back in advance for the months which have not yet passed as you could (a) get another job (b) die!

I don't work in payroll, but I do work in Finance and this is how I see it. Best bet however is to just drop them an email and ask.

Amanda
When you send off your P85 dependant on which office you use depends on the answer. I got a reply saying when we have our australian address I needed to write to them again and they will send a lump sum cheque over. My husband got a reply saying the same but adamant they wanted his P45 sending too. But they both said are paid out within the month. We havent done it as we are both using career breaks and are getting the tax back that way (bit of insurance in case didnt work out for us)
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Old Aug 9th 2007, 10:01 pm
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Default Re: Tax rebate

Originally Posted by Wilso16 View Post
I am due to finish work on the 31st Aug and I am going to try and get a tax rebate back so will be sending of my P85 a.s.a.p. Does anyone know how quickly this is paid out once you've applied? Will I have to wait until the tax year finishes i.e. next April?
Hi I did this a few yaers ago when I went to Oz and got it back after 3 weeks. Just about to go again and fill out the p85 so hoping it wont be too long, just waiting for my p45 now so I can send it off!
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Old Aug 9th 2007, 10:12 pm
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Default Re: Tax rebate

could you expail this a bit further are you saying that when you fill out a P85 form that you are entitled to a tax rebate???? This is all news to me
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Old Aug 9th 2007, 10:25 pm
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Default Re: Tax rebate

Originally Posted by soon to be a sheila View Post
could you expail this a bit further are you saying that when you fill out a P85 form that you are entitled to a tax rebate???? This is all news to me
Yes depending on when you go and how much tax you have earned, as the IR calculate your monthly tax on the premise that you will be earning for the full tax year so if you leave part way through, you will prob get some back. The lady at the tax office told me I should get 'most' of my tax back that i've paid from April which totals about £1100. Nice! even half that would be good. If you leave the UK as the tax year comes to an end you will get less back. thats all I know. heres a link to the form and info from IR:

http://www.hmrc.gov.uk/cnr/p85_p85s.htm

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Old Aug 9th 2007, 10:36 pm
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Default Re: Tax rebate

thanks sarah thats a surprise a nice one though, being a nurse as well and still waiting for agenda for change banding and and 3years back pay at least i will get something im owed after moving to oz is it any wonder nurses are leaving britain in their droves. the nhs is dying on its feet.
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Old Aug 9th 2007, 10:48 pm
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Default Re: Tax rebate

Originally Posted by soon to be a sheila View Post
thanks sarah thats a surprise a nice one though, being a nurse as well and still waiting for agenda for change banding and and 3years back pay at least i will get something im owed after moving to oz is it any wonder nurses are leaving britain in their droves. the nhs is dying on its feet.
It certainly is - we will all end up in Oz glad you got a nice suprise when and where you heading to?
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Old Aug 9th 2007, 11:40 pm
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Default Re: Tax rebate

Hi
We have sent ours of , but at the mo there is a 15 week delay.So we waited 15 weeks then rang them up to see where the cheque was and they said that they would be dealing with it in about a week . Two weeks later and another phone call later .They said sorry but with all the bad weather they were having they would be doing it soon. We sent ours of on the 1st of April and still havnt got it yet , but have phoned again and a cheque was sent to my mums on the 3rd of August but please allow 14 days before we phone again. So we are still waiting god i hope its worth it So to anyone about to send theirs of be prepared for a long wait.
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