Tax back from previous years

P

PaulM07

Guest
Hi,

I worked the first three months of this year. I then started my own business which has or will not be able to pay me a salary until next year.

Can I claim the tax back for these three months?

Can I claim tax on previous years?

Can I claim social welfare?
 
Re: Tax back from previos years

Is your new business a company or sole trader?
Has it made an accounting profit?
 
PaulM07 said:
Can I claim the tax back for these three months?
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At the end of the tax year you may be able to request a P21 balancing statement to check if your taxes are up to date and if you are owed anything. Unless this is not longer relevant since you are self employed?
Can I claim tax on previous years?
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Same again - if you were PAYE for these years then make sure that Revenue have all relevant details especially if you are not sure that your tax affairs/credits are accurate and then ask for P21 balancing statements for up to the previous 4 tax years (i.e. back to 2003 if necessary). You may need P60s for these years to support any such requests.
Can I claim social welfare?
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I think that in some cases of new business startups SW can pay Jobseekers Allowance/Benefit or maybe some other payment so you should check with them.
 
Sorry Clubman, I did not mean to upset you. Just a simple mistake.

I am not a sole trader, it is a company.

Do I have to wait until the end the year or can I go about making the tax claim now?

I know for definite that I will not make any revenue from the company this year.

Thanks for your knowledge.
 
Firstly, if you have invested money in the company, is it one on which seed capital relief can be claimed?

If you haven't been paid by the company and won't be, you will be entitled to tax back for this year but this won't be repaid until you submit your 2007 tax return.

Alternatively, if you have a tax credits cert issued in relation to your employment by the company, you could have the company pay you a small sum in December and the company would repay you the tax (and reclaim it from the Revenue).

If your tax affairs for the previous years were in order and you claimed anything you were entitled to (medical expenses etc) you are unlikely to be due a refund from those years.
 
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