31 January 2005 is an important day for taxpayers here in the UK. It’s the deadline of filing your individual tax returns – that is if you’ve been procastinating like me otherwise, you would have already submitted your tax return before the 30th of September.
In all honesty, I really wasn’t procastinating…I actually started concerning myself with my returns since March last year. For one, this was the first time I was doing this tax thing myself and secondly, I knew my case was a bit complicated because I was on expat status from May to July (2003) and then I worked for another commpany until August 2003 before finally moving to my current employment inn September 2003. So, I asked my current company’s HR to help me out. Since they don’t have my tax information from when I was on expat status, they said that it would be really difficult for them to complete the return for me. They suggested that I have return completed by the same people who prepared them for me when I was on expat status. We rang them up and they agreed to do it for me at a very friendly price.
Anyway, May (2004) came and my company sent out our individual P60′s where the tax information is indicated. This is where I procastinated…I waited until October to pass the information to the accountants. Now, I have the tax return completed and hopefully, I could get it in time over to the tax office.
The more painful part about it is – I need to pay £563 more tax! Why? Because of the housing allowance I received when I was working as an expat here in England. I was told by my accountants that the allowance was tax free for the first 2 years. Since my stay extended beyond that time, any allowances/benefits would be subject to tax.
BUT this tax was supposed to be shouldered by my previous employers since it was an agreement that the monies we received (per diems + allowances) were net of taxes. So, in reality, I should be claiming back this money from them as they were supposed to have given me the money for it. Big problem is, I am no longer their employee and I haven’t been since July 2003! I emailed my ex-boss in Madrid and told him about the situation and asked for help. He said to contact 2 key persons, one of whom he will personally speak to about my case on Monday. Fingers crossed, I would get my money back.
I would have just let it go if the additional tax I had to pay was only less than £100. But it’s £563 … and that’s a lot of money! If I don’t get that back, there goes my holidays… :pessimist: Please help me pray. Thanks.
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good luck with your tax return.
are you online at the moment? its 12:55am
Good luck, we don’t have to worry about that at least until April 15th! I’ve done some calculations. I think we’re gonna get money back. :veryhappy:
Over here we always get money back. The only people who have to pay are subcontractors and people who own their own businesses. Regular employees, however, have “income tax” taken out from every paycheck, and get part to all of it back when they file. (Last year we got ALL of it back due to the child tax credit, because we have 5 kids… but one of them turned 18 so we can only claim 4 of them this year.) So complicated! Good luck!