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Claiming tax back.

  • 06-07-2009 11:21am
    #1
    kkelly77
    Registered Users, Registered Users 2 Posts: 1,673 ✭✭✭


    I recently was given a redundancy package from my employer. Am I entitled to claim back tax I've paid since the start of the year? Thanks.

    K


Comments

  • #2
    Eoin
    Registered Users, Registered Users 2 Posts: 21,263 ✭✭✭✭Eoin


    I'm open to correction, but I think all that will happen is that your tax credits will be adjusted - I don't know if you can claim money back until the tax year is over.


  • #3
    magic roundabou
    Registered Users, Registered Users 2 Posts: 246 ✭✭magic roundabou


    you are not able to claim back tax in the current year - if you get an other job before the year end you will normally be given back any amount due to you - the only exception to this is if you are leaving the country - in this case you will need to prove you will not be back in employent before the year end


  • #4
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭3DataModem


    kkelly77 wrote: »
    I recently was given a redundancy package from my employer. Am I entitled to claim back tax I've paid since the start of the year? Thanks.K

    Yes. But not until the end of the year (unless you start work before the end of year).


  • #5
    Blogger50
    Registered Users, Registered Users 2 Posts: 298 ✭✭Blogger50


    Hi OP,

    Well I stand corrected but this is based on my experience. I was made redundant at the end of January. I didnt receive a redundancy payment because I was only in the job a year.

    I have claimed tax back (which I have just received) using a P50 form. You can find this on the revenue website. You are entitled to do this once you have been out of work for four weeks. I received a letter stating the amount of my refund and another form to return if I am not employed in the next eight weeks. So as far as I am aware you are entitled to claim tax back twice.

    I am not sure if a redundancy payment affects this though.

    Best of Luck.


  • #6
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    As Blogger50 points out, if you remain unemployed as a result of your redundancy you'll be able to reclaim income tax using your tax credits as they accrue. Once you've been unemployed for four weeks you can submit a P50 using those new tax credits to get a refund of previously paid income tax. After each subsequent four weeks of unemployment (ie. eight weeks, 12 weeks, 16 weeks...) you can make an additional refund claim until you've either used all the year's credits or you've got no income tax left to refund. Jobseeker' Benefit is a form of taxable income so it uses credits and will reduce the size of the refund.


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