tax returns

R

rockboy

Guest
Hi all - As you will gather from my post I don' t have a clue about tax but someone in work who is PAYE said she gets a tax returns form each year and just ticks everything which means they have to check all the taxes they charged you.

She says she's got back an average of around 500 each year just from being overcharged - and this doesn't include filing for medical, rent or whatever.

What's the story with this? Is it worth following up on as a PAYE worker and has anyone else done it?

Also as a PAYE worker what are the best ways - if any to - cut on tax as I pay over 1600 a month and would love to cut this if possible in any way.
 
PAYE workers don't have to file a Form 12 return every years unless they need to or are asked by Revenue to do so. However it is up to the individual to check that their tax credits are up to date and that they are not under (or over!) paying tax. In many cases not all credits/allowances are claimed leading to overpayment of tax. If you suspect that this is the case for any of the last four (I think that's the furthest back they allow now) then you should write to the tax office with details of things that you think that you may not have claimed for (e.g. medical expenses, standalone pension contributions etc.) and copies of your P60s for the relevant years and Revenue will recheck your file and refund any tax overpaid where applicable. I've generally received refunds most of the years that I've been working due to medical expenses, pension contributions, waste management charges, incorrect tax credits etc.

Also as a PAYE worker what are the best ways - if any to - cut on tax as I pay over 1600 a month and would love to cut this if possible in any way.

First thing is to make sure that you are getting the correct [broken link removed] for your personal situation and that your [broken link removed] for tax and PRSI are correct. Next make sure that you are claiming all applicable allowances - e.g. medical expenses relief etc. If you have a mortgage then make sure that you are getting the correct [broken link removed]. Make sure that you claim [broken link removed] if applicable. You could make pension contributions as the tax relief is pretty generous although the money is obviously locked away until retirement and if you don't already own a house then this may be more of a priority. You could always [broken link removed]. :)

Hope this helps.
 
Thanks a lot for that Clubman. I'll look into all these situations except the getting married one as too much fun being single at the moment! :)
 
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