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Getting tax back
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09-09-2008 09:39AM#1
Comments
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Most likely you will have been paying Emergency Tax in the first few weeks of your job until your employer and the Revenue office sorted out your P45 (your statement of taxation). This can sometimes be sorted within a week to two weeks but can sometimes drag out longer. Emergency tax is the highest rate of tax you can pay and assuming you are a student, you are entitled to all of this back as the state cannot tax you if you earn less than your standard rate cut off point.
So basically, getting your tax back is a good thing!
It means you will get a nice bonus in your wages one of these weeks which is the tax they've been deducting from your wages all along.
Just dont spend it all in one night out...0
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