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Income Tax
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I was recently made redundant, but paid 8 months Income tax to the revenue. How can I claim this tax back form them..?
Answers
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For more on marking an answer as the "Best Answer", please visit our FAQ.Tax is worked out from April to April so if you have stopped working at end of say October your tax paid has been calculated on what you would earn for the total year. As you will not earn from now until nest April you have paid too much tax and this should be refunded to you at the end of the tax year.
Red is right.
You pay income tax at a rate which assumes your earnings are constant throughout the year. If those earnings suddenly cease, you can't immediately get any tax paid back. If and when you start another job before the end of March 2010, the tax position will correct itself in the first pay packet you receive. Your employer gets the necessary information to calculate the refund from your P45.
If you are still unemployed at the end of the tax year you can apply for a tax refund, but don't assume it will be all of what you paid. It depends on what your earnings were.
You pay income tax at a rate which assumes your earnings are constant throughout the year. If those earnings suddenly cease, you can't immediately get any tax paid back. If and when you start another job before the end of March 2010, the tax position will correct itself in the first pay packet you receive. Your employer gets the necessary information to calculate the refund from your P45.
If you are still unemployed at the end of the tax year you can apply for a tax refund, but don't assume it will be all of what you paid. It depends on what your earnings were.