Tag: tax refund claims

Form P60

April 29, 2013

This is the form you receive from your employer after the end of the tax year. Employers normally issue these forms in January or February after the end of the preceding tax year. It is a record of your pay and tax deducted for the tax year. You will need this form to claim tax refunds. In addition financial institutions look for these forms when applying for a mortgage as it is evidence of your income for the tax year.

The Form P60 also shows the gross pay for USC levy purposes and the amount of USC Levy deducted for the year.

Tax Credit Certificates

April 29, 2013

An employee obtains a Tax Credit Certificate from their Tax Office and the PAYE calculations are based on this certificate. This certificate contains details of your tax allowances and reliefs.

The tax credit certificate is a very important document, as the employer will calculate the monthly PAYE due based on your tax credit certificate. If this certificate is incorrect you may pay too much PAYE. The Tax Office are the only ones who can amend your tax credit certificate and it can only be done during the tax year.

If you think there may be an error on your tax credit certificate you should contact your local tax office immediately. You could be due a tax refund if you are not getting the correct tax credits. Alternatively if the tax office have over allowed your tax credits you could end up owing tax at the end of the tax year.