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Redundancy / P50 / moving abroad

  • 27-11-2009 5:23pm
    #1
    3DataModem
    Registered Users, Registered Users 2 Posts: 4,077 ✭✭✭


    My buddy was laid off in September, and he has been on JSB since then. He has found another job abroad and is leaving Ireland in the new year.

    Question; he submitted his P50 a few weeks ago and is asking me how much he thinks he'll get. By my (crude) calculations his tax credits are about 3600 per year (he's married) which means he has basically 300 per month "unused" tax credits x 3 = €900 x 40% = €360 overpaid tax approximately.

    ... is that right?


Comments

  • #2
    SaschaKyiv
    Closed Accounts Posts: 29 ✭SaschaKyiv


    Your buddy should receive back the full benefit of his unused tax credits.

    Assuming they are €300 p.m. he has €900 of unused tax credits. This means when looking at the period Jan-Dec your buddy has overpaid tax by €900 and should receive this amount back.

    This is assuming he has paid enough tax in the period Jan-Sep to cover a €900 refund which I assume he would have.

    The JSB he has been receiving may reduce the refund slightly. Similarly any credits that you are unaware of may increase it e.g. rent credit, service charge credit, medical insurance credit, flat rate espenses etc.

    As your buddy is leaving the country Revenue may also allow your buddy to claim relief for any qualifying unreimbursed medical expenses incurred during the year.

    Hope this has been helpful.


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