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Tax documents FAQ

Find the answers to the following commonly asked questions on tax documents:

 

1. What is a CIS tax rebate?

CIS stands for Construction Industry Scheme. Those working in the construction industry are issued with a CIS statement of payment at the end of each month and at the end of each contract. This is a certificate of pay showing your income and tax paid on those earnings.

2. What is a P45 document?

A P45 document is a certificate of your income indicating how much you earned and how much tax you paid on those earnings.

It is a blue, three-page form, which your employer will issue to you at the end of each employment.

Part 1A is to be kept by you for when you want to claim your tax back. The other parts are to be handed to your next employer. You will need to submit parts 1A, 2 and 3 of the P45 from your previous employer in the UK.

3. What is a P50 Document?

A P50 is a document you complete to claim a tax rebate if you have retired, become unemployed, become a student or have been made redundant and you won’t be working again until the end of the tax year.

If you stopped working part way through a tax year, you may be due a tax refund. All you need to do is to fill in a P50 form and send it to us with your P45 (all three parts). We will then receive your refund from the tax office and they will issue you with a new P45 if necessary.

4. Who can claim a tax refund on a P50 form?

If you have been working under PAYE, CIS or as self-employed you may qualify. If you are self-employed or in construction, you usually have to make “payments on account” in relation to next year’s tax bill. You may have paid too much, which would result in a refund.

5. What is a P60 Document?

A P60 document is a certificate of income issued to you at the end of the financial year indicating how much you have earned and how much tax you paid on those earnings.

6. What if I've lost my P45 or P60?

If you have lost your P45 or P60, you will need to contact your employer or agency and ask them to issue you with a statement of earnings as a substitute.

If you are unable to do this, we may be able to assist you. Subject to conditions, we may be able to follow up on a maximum of two outstanding documents at a cost of £20 + VAT per document.

In our experience, we have found that our clients have a higher rate of success getting this information from their employers and agencies. We would therefore advise all clients to try to obtain the documentation first before contacting us for assistance.

Please note: we cannot guarantee that outstanding documentation will be received, as employers and agencies are not legally obligated to issue statements of earnings.

HMRC may have your missing pay and tax details on record. Contact us to find out how to obtain this information

7. What is a P11D?

Your employer uses a P11D to tell HMRC about the value of any “benefits in kind” they've given you during the tax year.

This means benefits or expenses that effectively increase your income, like:

• A company car
• Private medical insurance

8. Tax codes and emergency tax

Your tax code relates to the tax-free allowance that has been allocated to you. For example, the code for the 2014/2015 tax year was 1000, which means that person had a tax-free allowance of £10,000.

If your tax code has "X", "M1" or "W1" in it then your tax is being calculated on your monthly or weekly earnings as opposed to an annual salary basis.

Another tax code is "BR". This indicates that no tax-free allowance has been given to you and basic rate tax is being charged.

These are forms of emergency tax that are usually charged if your employer is not sure how much you should be taxed. Tax codes are shown on pay slips, P45s and P60s.

You can claim back any tax you may have overpaid, even if you have already left the country.

As long as you submit a claim through 1st Contact Tax Refunds within five years of leaving the UK, along with the necessary documents, you will still be eligible.

Couldn’t find the answer to your question? Call us at +44 (0) 20 7759 7560 or email us for a free consultation with a tax refund adviser.

 

 

 

 

1st Contact Tax Refunds is not affiliated with HMRC. Read more.

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