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Will Revenue refund tax before 31 December??

  • 06-08-2009 3:53pm
    #1
    joehandyman
    Closed Accounts Posts: 24 ✭


    Hi there

    A friend is returning to college on a full time basis in September until June 2009. He will be leaving his job at the end of August. During this period, he will be living off his savings and will not be in receipt of any income. We would appreciate some help in relation to the following:
    • On the basis that he is returning to college on a full time basis and will not be in receipt of any income, will Revenue issue a refund of the unused tax credits in September or will they wait until after 31st December 2009?
    • The tuition fees payable to the college is in the region of Eur 6,700. Is it possible to obtain tax relief on the full amount or is there a limit upon which tax relief may be claimed?
    • If there is a limit on the amount on which tax relief may be claimed, is the limit based on an amount paid in a tax year or the amount payable for the course?
    Looking forward to hearing from you........


Comments

  • #2
    TaxingTimes
    Registered Users, Registered Users 2 Posts: 145 ✭✭TaxingTimes


    A Form P50 should be completed - there is a section on this asking if returning to college.

    Maximum relief is €5,000 at 20%.

    You can only be refunded tax that has actually been paid.

    Third level fees must be for an approved course at an approved college - details of these on Revenue website.


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