Reclaiming overpaid Income Tax

Former Member

So, the end of the Tax year is fast approaching and I am due some money back for Mr Cameron and Mr Osborne. I had been working full time from April to September and then left my full time job to go back to university to finish my degree. I’ve not worked since the 3 September 2010 and earned less than my personal allowance (meaning I should, in theory, get every penny of Income Tax back that I paid).

Normally if you’ve overpaid in Tax you’ll get it back through your employer if you’re still working, but as I’m not still working I’m going to have to claim it back myself from HMRC. Never had to do it myself before and wondered if anyone could point me in the direction of the right forms that I will inevitably have to fill out to get my money back from dumb and dumber in London.

Former Member

You should ring them, don't wait. They are quick at spotting under payment but a little slower at over [/cynic].

They will send out a cheque if necessary.

Former Member

They're not that quick at spotting underpayments either, they're just not
quick full stop.

Ring them sooner rather than later, but you will probably now have to wait until the end of the current tax year before they can do anything. They can, and do, issue refunds in-year if you have a P45 and confirmation of being a student (there's a specific student form but I can't remember the number now).

Former Member

Arctic Roll wrote: »

They're not that quick at spotting underpayments either, they're just not
quick full stop.

Ring them sooner rather than later, but you will probably now have to wait until the end of the current tax year before they can do anything. They can, and do, issue refunds in-year if you have a P45 and confirmation of being a student (there's a specific student form but I can't remember the number now).

P38(s) ?

Former Member

Took me about 2 months to reclaim nearly a grand off them if I remember correctly, and that was after they told me it'd take about 2 weeks. 'twas a blessing in disguise though, when it finally arrived i was unemployed and had been reduced to the ignominy of smoking roll ups and shopping at Lidl.

Former Member

Give your tax office a call. If it's as simple as you describe above then often you don't need to fill in any forms, although at this stage you will probably have to wait until after the end of the tax year to get it.

In future, if you're only going to be working in the holidays and are a student and will be below your personal limit for the year get hold of a P38(s) and then you won't have to pay income tax in the first place.

Former Member

Spliffie wrote: »

Took me about 2 months to reclaim nearly a grand off them if I remember correctly, and that was after they told me it'd take about 2 weeks. 'twas a blessing in disguise though, when it finally arrived i was unemployed and had been reduced to the ignominy of smoking roll ups and shopping at Lidl.

roll ups and Lidl are top dogs regardless of moolah.

Former Member

katralla wrote: »

roll ups and Lidl are top dogs regardless of moolah.

Well I'm forcing myself to smoke roll ups right now to cut down expenses but I ain't going back to Lidl in hurry.

Former Member

Hey there Avizandum,

Talking from personal experience, it was really easy to claim back tax after I left employment and went back to being a student.

You'll need your P45 from your old job; which I assume you were provided with. You then need to complete the P50 form; see this link to the HMRC website. This webpage directs you to the form (PDF) and has more information about claiming a tax refund.

You'll need to send the form and all enclosures to your Tax Office. You can find out the address using this link.

Remember to send the original copy of your P45 (unlike me!) or they won't be able to process it.

I hope this helps.