Claiming tax back question

AnimeRulez

hey guys fist thing im a total moron when it comes to this tax stuff so if someone can explain it to me simply id be most appreciative

i was made redundant in March the company was paying me till april 24th im currently in the process of loking for a new job just while i am i thought can i get some of my tax back

so thats my first question is it ok for me to get tax back or do you need to be employed to get it

also a friend of mine told me if i try to get tax back i have to agree not to work till the next tax year is that true if so is it worth it (say if a job offer comes in) also does the dole frown on this the fact you cant work till then

finally where would my local tax office be i live in Beaumont near Artane Castle

Sorry if any of these questions are stupid id apprciate any help as i said im not the brightest when it comes to this stuff always confused me

Thanks

gerrybbadd

AnimeRulez wrote: »

hey guys fist thing im a total moron when it comes to this tax stuff so if someone can explain it to me simply id be most appreciative

i was made redundant in March the company was paying me till april 24th im currently in the process of loking for a new job just while i am i thought can i get some of my tax back

so thats my first question is it ok for me to get tax back or do you need to be employed to get it

also a friend of mine told me if i try to get tax back i have to agree not to work till the next tax year is that true if so is it worth it (say if a job offer comes in) also does the dole frown on this the fact you cant work till then

finally where would my local tax office be i live in Beaumont near Artane Castle

Sorry if any of these questions are stupid id apprciate any help as i said im not the brightest when it comes to this stuff always confused me

Thanks

Howdy,
Ya don't need to wait til tax year is over. All u need to do is obtain a P50 Form, available on www.revenue.ie (PDF) and submit 4 weeks after you first become unemployed. You'll need to send Parts 2&3 of your P45 also. (part 4 is for social welfare)

Theres nothing to say you can't work until after the tax year is over. There is a section on the form that asks if you intend to return to employment before 31/12 in that year (tax year is now as a calendar year) - If you were to say no, you do not intend to resume employment, the tax office would perform whats called a permanent cessation for that year, in effect finalising your tax liability for that year. This may be what your friend was referring to.

Keep in mind also, Jobseekers Benefit (stamps) are a taxable source of Income from Social Welfare, and the way tax is collected on this income is through a reduction of your tax credits etc for the current tax year. If you are currently in receipt of this, its recommended you wait 8 weeks after employment cessation before applying for tax back.

Finally, your tax office is 9/15 Upper O'Connell Street, Dublin 1.
Sorry for the long reply, hope its helpful.:D

Lu Tze

Can you claim it back if you just leave your job?

AnimeRulez

Thanx gerrybbadd appreciate ure response (computer was down so couldnt thank you sooner)

jst wondering if i could ask you another question on the p50 it asks do you intend to resume employment before dec 31st yes or no everyone keeps telling me the way things are to say no as if i say yes they might slow up on giving me my tax back theyve said to lie to get my money back faster

it says if i say no to give a reason ive been told to say education but am i lying if i say that i am going to do courses in Trinity Collage starting in August but technically not attending collage for say 3 years straight (if that makes sense)

so what do you think i should say

Thanx appreciate your advice

gerrybbadd

Lu Tze wrote: »

Can you claim it back if you just leave your job?

Yes, its not like the Social Welfare, where your made to wait if you leave yourself, rather than be let go.

gerrybbadd

AnimeRulez wrote: »

Thanx gerrybbadd appreciate ure response (computer was down so couldnt thank you sooner)

jst wondering if i could ask you another question on the p50 it asks do you intend to resume employment before dec 31st yes or no everyone keeps telling me the way things are to say no as if i say yes they might slow up on giving me my tax back theyve said to lie to get my money back faster

it says if i say no to give a reason ive been told to say education but am i lying if i say that i am going to do courses in Trinity Collage starting in August but technically not attending collage for say 3 years straight (if that makes sense)

so what do you think i should say

Thanx appreciate your advice

At this stage of the year, your claim would be processed in around 10 days or so anyways. Its always best to be truthful on your claim forms, if your found to be lying, this could come back to bite you later down the road!

If you say no, you do not intend to resume employment, the length of time it takes to process your claim will be the exact same as if you say yes.

I think what your friends are saying is if you say no, Revenue will review the entire tax year upto 31/12/2010, and make a lump sum refund to you, whereas, if you say yes, Revenue will review your liability upto the date of your claim, and you'll get refunds of tax in installments, every 4 weeks, until all the tax due back is refunded.

Hope this helps

MagicMan2

Hi Gerrybad. When you say that the Job seekers benefit is included in this how does that work? Does it add to the refund or reduce it? Sorry just a bit confused

gerrybbadd

MagicMan2 wrote: »

Hi Gerrybad. When you say that the Job seekers benefit is included in this how does that work? Does it add to the refund or reduce it? Sorry just a bit confused

Jobseekers is taxable, and the way tax is collected on this is through a reduction of your tax credits. This in effect will reduce the amount of refund you will recieve.

MagicMan2

Thanks Gerrybad