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Where Taxpayers and Advisers Meet

Claiming tax refund after redundancy

GalaNova
Posts:3
Joined:Sun Jun 12, 2016 2:28 pm
Claiming tax refund after redundancy

Postby GalaNova » Sun Jun 12, 2016 2:38 pm

Hello,

I was made redundant in November 2015 and still out of work. I am going to claim overpaid tax for 2015/2016. I also had rental income since September 2015 on which I haven't paid any tax yet. When filling in P50 form I am asked if I have had any income since the end of my employment. Is it related to income received through employment only or rental income should be mentioned there? If I should mention rental income, is it before or after allowable expenses?

Thank you for your help!

bd6759
Posts:4267
Joined:Sat Feb 01, 2014 3:26 pm

Re: Claiming tax refund after redundancy

Postby bd6759 » Sun Jun 12, 2016 6:56 pm

You will need to fill out a tax return

GalaNova
Posts:3
Joined:Sun Jun 12, 2016 2:28 pm

Re: Claiming tax refund after redundancy

Postby GalaNova » Sun Jun 12, 2016 9:36 pm

You will need to fill out a tax return

Thank you, I was going to do that separately and claim tax refund via P50. Do you mean that there is no need claiming it through this form, overpaid tax will be returned after I submit the tax return?

JRG
Posts:424
Joined:Wed Feb 03, 2010 4:40 pm

Re: Claiming tax refund after redundancy

Postby JRG » Mon Jun 13, 2016 12:08 pm

You need only submit a tax return. The P50 form is usually for those who don't need to complete a tax return.

If you complete your tax return online HMRC will automatically calculate your tax liability, and, in my experience, any refund is normally paid within a few weeks.

GalaNova
Posts:3
Joined:Sun Jun 12, 2016 2:28 pm

Re: Claiming tax refund after redundancy

Postby GalaNova » Mon Jun 13, 2016 1:43 pm

Thanks a lot!


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