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TAX REBATE!

Discussion in 'New teachers' started by fluffysparkles, Jul 11, 2011.

  1. fluffysparkles

    fluffysparkles New commenter

    Have posted this on 'Prospective student teachers' for those working before pgce (see thread for details of forms etc) but thought I'd post it here too as it applies to you NQTs too!
    Told an NQT collegue about this and she's apparently getting around £600 back!
    Basically tax years run april to april and your taxed as though you've worked 12 months but really have only worked 8 months (sept to april.) assuming your nqt job is your first paid role etc. (Or in my pre pgce case, April to august)
    Anyway, direct.gov, search for P50. Definately worth a look for a wee two fingered salute to the tax man! [​IMG]
     
  2. littlemissraw

    littlemissraw Occasional commenter

    I got mine. Thought it was from this year (as lost my job) but is from 09-10! Still nice suprise, hoping to get another at some point... x
     
  3. jubilee

    jubilee Lead commenter

    Anyone who has erratic work, with periods of no paid work or who has more than one employer should be checking out whether they have overpaid tax after the end of every tax year.
    Hold on to P60s and P45s (from employers and JSA).
    All teachers should aslo be claiming tax relief on the £36 they pay to the GTC and for the allowable portion of their Union subs.
    Unions will tell you what percentage of the subs to them is eligible for tax relief. It depends on their legal constitution and can vary from 100% to two thirds. If you are with the ATL,for instance, you can offset 9/10ths of the subs. That means that for every £100 paid in subs you can offset £90 against tax. If your highest rate of tax is 20%, you get back £18 in tax. If you inform them during the tax year about your current year union fees and GTC fee, they will increase your tax code, which will then mean less tax being deducted in the first place. Update them every year as the fees change.
    Once you finish your PGCE and don't have a job yet or won't have one until September, you can sign on for JSA and get housing benefit and council tax relief too if you rent your own home and have little or no savings .If you worked in the years before training, you will have an automatic right to JSA Contributory, cased on your past NI record and that is paid irrespective of how much you have in savings and isn't affected by a partner's earnings.

     

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