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Tax Back

  • 17-06-2021 3:29pm
    #1
    El Gato De Negocios
    Registered Users, Registered Users 2 Posts: 7,111 ✭✭✭


    Apologies if this is a silly query but I cannot seem to find anything definitive online.

    When I was a student (20+ years ago) and I was working for the summer, once I left employment I was able to claim back the tax I had paid.

    Is this still a thing / possible?

    The scenario is as follows. My wife has been working full time as a PAYE worker. We are finalising plans to build a house and once we drawdown the initial mortgage payment the intention is that she will leave her job and be a full time parent until the kids are both in school. All going well that will be in September 2023.

    Can she claim for the tax she has paid for 2021?

    She is currently earning a good salary so by the time she finishes up (probably August / September) she will have paid the guts of €20k in tax.

    Are there any avenues for her to claim anything back once she leaves her job and gets her P45?

    Another related question. I plan to take her tax credits once she leaves work. Would claiming any tax back (assuming this is possible) have any implications for her tax credits and / or me using them?


Comments

  • #2
    Padre_Pio
    Registered Users, Registered Users 2 Posts: 5,352 ✭✭✭Padre_Pio


    Yes.
    Log in to Revenue Online.
    Submit a P21 balancing statement for each year.
    Revenue look back and see if everything works out.

    It's easy. I do it every year.


  • #3
    Bojill
    Registered Users, Registered Users 2 Posts: 349 ✭✭Bojill


    Any refund would be based on her unused credits.
    You can't claim unused credits if you then use them for yourself.


  • #4
    Happyhouse22
    Registered Users Posts: 501 ✭✭✭Happyhouse22


    You can certainly claim tax back as Padre Pio describes above, remember though that all earnings over 35,000 are taxed at the higher rate - so she mightn’t be entitled to that much but should get something alright.


  • #5
    Sunny Dayz
    Registered Users, Registered Users 2 Posts: 5,445 ✭✭✭Sunny Dayz


    Make sure you are jointly assessed to allow the transfer of tax credits or bands between spouses.


  • #6
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    El Gato De Negocios wrote: »

    Another related question. I plan to take her tax credits once she leaves work. Would claiming any tax back (assuming this is possible) have any implications for her tax credits and / or me using them?

    I'm going to try and explain this very simply. It may come out slightly condescending but sometimes it helps.

    Everybody has tax credits.

    They apply for the year but you get access to 1/12 of them every month.

    Claiming tax back after you finish up work is using tax credits from portions of the year that you didn't work and didn't use your tax credits against your income.

    If she gets tax back she is using her tax credits. Therefore you can't use them. Likewise if you use her tax credits she can't use them to claim back tax.


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  • #7
    huskerdu
    Registered Users, Registered Users 2 Posts: 1,931 ✭✭✭huskerdu


    El Gato De Negocios wrote: »

    Can she claim for the tax she has paid for 2021?

    if your wife gives up work in 2023, this will mean that you both may pay less tax in 2023.

    There will be no tax rebate for 2021 because of giving up work in 2023


  • #8
    Jerry Attrick
    Closed Accounts Posts: 243 ✭✭Jerry Attrick


    huskerdu wrote: »
    if your wife gives up work in 2023, this will mean that you both may pay less tax in 2023.

    There will be no tax rebate for 2021 because of giving up work in 2023

    The wording is ambiguous! I think that the poster meant "all going well" both kids would start school in September 2023!


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