Tuition fees tax relief

currooney

I submitted a form 12 last Wednesday to claim tax relief on my college fees.
Afterward I received an email from revenue with a referece number and notification that they would be in contact shortly.
When I check it on the revnue website now, the tax relief I'm entitled to has been calculated shows as 'pending.'

Is this kind of delay to be expected or am I missing a step?

Also, upon completion of form 12 I was notified that I had overpaid in tax last year. I don't really understand how this came about but this has been refunded to my bank account already.
Why is revenue so painfully confusing!:o

relax carry on

currooney wrote: »

I submitted a form 12 last Wednesday to claim tax relief on my college fees.
Afterward I received an email from revenue with a referece number and notification that they would be in contact shortly.
When I check it on the revnue website now, the tax relief I'm entitled to has been calculated shows as 'pending.'

Is this kind of delay to be expected or am I missing a step?

Also, upon completion of form 12 I was notified that I had overpaid in tax last year. I don't really understand how this came about but this has been refunded to my bank account already.
Why is revenue so painfully confusing!:o

What does your P21 balancing statement after you submitted your form 12 say? Were the tuition fees in relation to last year? read the P21 to see how your refund was calculated and if it's based on your tuition fee claim.

currooney

relax carry on wrote: »

What does your P21 balancing statement after you submitted your form 12 say? Were the tuition fees in relation to last year? read the P21 to see how your refund was calculated and if it's based on your tuition fee claim.

Yes it was in relation to last year.

On my P21 I'm assuming it should show in panel 6 'relief'? However this panel is blank.

My refund was overpayment of PAYE and USC.

relax carry on

currooney wrote: »

Yes it was in relation to last year.

On my P21 I'm assuming it should show in panel 6 'relief'? However this panel is blank.

My refund was overpayment of PAYE and USC.

Ok, that's where it should be. What were your total pay and tax figures for last year?

currooney

relax carry on wrote: »

Ok, that's where it should be. What were your total pay and tax figures for last year?

When I go into overview on the revenue site, approx 560euro is listed under tax credits for tuition fees and the status says 'pending.
My question is how long should I expect to wait to get confirmation on this so I can be refunded?

relax carry on

currooney wrote: »

When I go into overview on the revenue site, approx 560euro is listed under tax credits for tuition fees and the status says 'pending.
My question is how long should I expect to wait to get confirmation on this so I can be refunded?

Normally it's an automatic process where a P21 doesn't issue until after it's been processed. That means it's normally 24 to 48 hours to process with the funds hitting the account within 3 working days.

The Radeon I ask on the pay and tax details is because quite a few claims are made for credits/reliefs where either no or not enough tax has been played to bring the credits or reliefs into play. If you've still got more tax left to refund then the relief should be processed. If there's no more tax left to refund then there's no relief due.

currooney

relax carry on wrote: »

Normally it's an automatic process where a P21 doesn't issue until after it's been processed. That means it's normally 24 to 48 hours to process with the funds hitting the account within 3 working days.

The Radeon I ask on the pay and tax details is because quite a few claims are made for credits/reliefs where either no or not enough tax has been played to bring the credits or reliefs into play. If you've still got more tax left to refund then the relief should be processed. If there's no more tax left to refund then there's no relief due.

I paid 4,500 in tuition fees for the 2017 tax year. I understand that the disregard amount of 3,000 must be subtracted. So that means I am entitled to 20% tax relief on the remaining 1,500?

If this has already been refunded, I don't understand why it wouldn't show on my P21.

relax carry on

currooney wrote: »

I paid 4,500 in tuition fees for the 2017 tax year. I understand that the disregard amount of 3,000 must be subtracted. So that means I am entitled to 20% tax relief on the remaining 1,500?

If this has already been refunded, I don't understand why it wouldn't show on my P21.

Is there tax left to be refunded out of the PAYE you paid for 2017? For example if you paid €1000 tax for 2017 and you were refunded €800 then you've €200 left to be potentially refunded. However if you only paid €1000 PAYE and have been refunded €1000 PAYE then there's nothing left to be refunded.

FinnaldoX7

currooney wrote: »

Yes it was in relation to last year.

On my P21 I'm assuming it should show in panel 6 'relief'? However this panel is blank.

My refund was overpayment of PAYE and USC.

Was there any update on this? Currently going through the same process. Received my P21 for 2018 but there was no mention of the tuition fees in Panel 6 even though I listed it as a tax credit in the Form 12? Thanks.

Also, you say you saw your tax credit as pending in the overview on the revenue website, where on the website is the overview, can't seem to find it?

Stratvs

FinnaldoX7 wrote: »

Was there any update on this? Currently going through the same process. Received my P21 for 2018 but there was no mention of the tuition fees in Panel 6 even though I listed it as a tax credit in the Form 12? Thanks.

Also, you say you saw your tax credit as pending in the overview on the revenue website, where on the website is the overview, can't seem to find it?

Did the fees exceed the disregard (€3,000 or €1,500 depending on F/T or P/T)? If not no further relief due.
If they did then [ the fees ( subject to max €7,000 ) minus the disregard ] x 20% would be the tax credit but subject to whether you have enough tax paid for it to be relevant or did you get back all tax paid anyway by virtue of being under the tax threshold?

FinnaldoX7

The fees were more than €7,000 so as far as I'm aware that equals to a tax relief of €800 (minus disregard & 20% of remainder).

As for your second point, this could be where I am misinterpreting it. According to the P21, the Tax Due amount (which is listed as the income @ 20%) is in excess of €800.00.

However, in the 'Less:' section after gross tax payable, the Taxes Deducted amount (Panel 2) is less than €800.00.

Does the Taxes Deducted amount need to be in excess of the relief amount in order to qualify?

Stratvs

FinnaldoX7 wrote: »

The fees were more than €7,000 so as far as I'm aware that equals to a tax relief of €800 (minus disregard & 20% of remainder).

As for your second point, this could be where I am misinterpreting it. According to the P21, the Tax Due amount (which is listed as the income @ 20%) is in excess of €800.00.

However, in the 'Less:' section after gross tax payable, the Taxes Deducted amount (Panel 2) is less than €800.00.

Does the Taxes Deducted amount need to be in excess of the relief amount in order to qualify?

Your €800 would be correct provided you've enough tax paid to be refunded.

Look at panel 4 on the P21 (overleaf from the items you mentioned). In panel 4 there should be
personal tax cr
employee tax cr
there may be medical exps credits if you claimed some
is there anything else there ?

If not then it may be that your existing tax credits before any additional relief for the tuition fees are already more than enough to cover net tax due and in that case you'd just get back any net tax paid.