Claiming tax back/Self assessment forms

Pearly

Hi all,

This is research for some new fact sheets in the money section of TheSite.org.

Do many of you know or understand how to claim tax back (or when you are allowed to), or when and how you have to fill in a self assessment form?

If these subjects interest you, or you think they will affect you at some point, is there any question or advice in particular you would like to know?

Or do you have an interesting experience in any of these fields you would like to share? Did you find doing any of the above easy, or hard?

Thanks
Pearly

Former Member

I have absolutely no idea what soever as to how I claim tax back, and I think I'm owed about £1k from this summer.

How to go about it, where to start, when you can do it would all be good to know.

Former Member

I know a little bit about claiming back overpaid tax and a fair bit about self imployed income/self assessment.

Stuff people want to know, or ask when they find out I have accounting qualifications.

Claiming tax back: When in the year (during or post tax year), what documents they need (income and otherwise), how they can get further information.

Self assement:
What they need to prove their income, especially if they are self-employed and on a PAYE system during the same tax year.
Tax allowable items to reduce their liabilty.
Non-allowable items for tax (their are some odd/comfusing exclusions).

Working out claiming tax back is quite easy for me, but self assement can be a bit fiddly, even for straight-forward cases. the HMRC website can be helpful, but they do sometimes produce the information in accountant/tax speak rather the plain english.

Also, can you do a factsheet on how and why students are liable for income tax and NI? Because I've lost count how many times I've had to explain people why they are not exempt from paying tax by being students.

Pearly

Thanks all - the factsheets will be live sometime in January, along with podcasts. If you have anything more you'd like to add, please feel free.

Pearly :-)

Former Member

I've been trying to claim tax back and been told I need to send in all the p45s, p60s, etc. But I've worked in so many different jobs, and some of them didn't send me all the right paperwork, so I don't have it. Do I have to accept that I will never get that money back?

Former Member

Haha I'm a trainee accountant and even I don't know that much about it lol. But if you need any help filling the forms in, I'm very well trained in that department lol.

The only bit of advise I can offer is.....make sure you get it in by the dealine (31st January!)

Former Member

katchika wrote: »

I've been trying to claim tax back and been told I need to send in all the p45s, p60s, etc. But I've worked in so many different jobs, and some of them didn't send me all the right paperwork, so I don't have it. Do I have to accept that I will never get that money back?

If you dont have P45's/P60's you can request a statement of pay (confirming when your where employed, total pay, tax, NI etc plus the employers PAYE scheme details) as reissuing P45's/P60's is not allowed.
If you can sit down and work what your missing from when (a P60 is normally enough for each tax year you want to claim for) and try to fill the gaos in that way.