P21 Balancing statement

L

Lancer

Guest
I'm returning to college next week and am not entitled to any grant which I thought was harsh but anyways....
I was thinking that maybe I could look for my P21 and see if I was due any tax back. Does anyone know how far back they can go? Also would it be worthwhile to apply for it? I qraduated May 2003 and was working full time up until July 2006. Went travelling until August 2007 and have been unemployed since. As far as I am aware I can apply for tax relief for tuition fees paid. But some tax back would be a great help. Definitely don't want to owe them anything though so if anyone has any experience of doing this could ya let me know please. Thanks
 
You can request P.21's from 2004 - 2007. If you were travelling only in 2007 your claim is straight forward, if you were working while abroad you will need to return a statement of foreign earnings and tax deducted thereon in order to make a claim for 2007. If u were just travelling this is not necessary. If you have worked this year and do not intend resuming employment before 31/12/08 you can claim a refund for this year also by completeing Form P50 and returning it together with your form P45 to your local tax office. List of approved college courses is available on Revenue website u can check there if your course is allowable for tax relief purposes, if it is forward your receipt with your claim.
 
Thanks for the reply. I know you can't say for definite or anything but what do ya reckon the chances of me owing them money would be?
 
Just to point out, that with a P21 balancing statement, it could also show that you owe them money. If you did not pay the proper tax for some of the years you were working then they would have to reclaim this. Very rarely happens but I do know 2 people it happened to.

On the other hand, the refunds are good - hard to estimate what you may be due without knowing what you were paid for each year and what tax you paid.

Also, not sure if you considered this, but you can also back claim for rent relief - another good source that some people dont think of.
 
if you owe alot they allow you to pay it back in installments.
 
Revenue may accommodate a PAYE taxpayer with outstanding income tax liabilities by adjusting their tax credits downwards for a period of time in order to collect the money.
 
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