Tax back when unemployed

times

Registered User
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11
Hi,
I have been unemployed for the past fifteen months, at the time of my departure from my previous employment I was owed a considerable amount of money by my employer under bonus agreements. As part payment of this money a company vehicle was transferred into my name. It is my understanding that I have until the 31st of October of this year to declare this. But my question is this, if my employer had paid me the money due, through the PAYE system prior to my departure, I could have claimed back the tax paid on this after one month of becoming unemployed, as such, if I pay the tax due arising from the transfer of this vehicle on the 31st of October, can I claim this back in 2012, if I am unfortunate enough to be still unemployed.
 
It's not completely clear from your post what happened.
Were you made redundant?
Was tax deducted on the initial part of your bonus payments (but not on the transfer of the car in settlement of the remainder of the bonus)?

The answer to your specific question is No. If you have a tax liability for 2010, you will not get a credit for that in subsequent years no matter when you pay this.

However if you were made redundant the total of your settlement may not even be taxable depending on the amount, years of service, and other factors.
If this were the case you could ring Revenue looking for a balancing statement for 2010 and any tax overpaid will be refunded to you. I was made redundant last year and I found Revenue very helpful.
 
I was offered redundancy but then the firm reneged, the jeep wasn't part of any redundancy agreement, it was part payment for monies due. I never got the remainder. The jeep was transferred over some months after my departure.
 
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