Do you know a student who could be due a tax refund?
Article posted: 11th September 2018
Many students will have worked at temporary jobs over the summer holidays and although some will continue to work while studying, others will not work again until the Christmas holidays or maybe not until the new tax year.
For those students who do not plan to earn a wage soon, we recommend they investigate whether they have overpaid tax on their summer jobs and put in a request for a tax refund now rather than wait until the end of the tax year.
Claiming a tax refund is usually a straightforward process. Students can apply online using the Government Gateway on GOV.UK to complete form P50. By completing and submitting the form on-line, there should be no need to send in copies of forms P45 (the form that is given by an employer when someone leaves employment with them). HMRC will pay any refund due direct to a student’s bank account.
Clearly, it will help students’ cash position to have any overpaid tax back as soon as possible.
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