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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13885
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I have just left my previous employment (an investment

Resolved Question:

Hi .. I have just left my previous employment (an investment bank) and unfortunately am subject to a bonus clawback from 2012. unfortunately I need to pay them back a gross amount. - how likely / possible is it that I get the net tax paid back by the inland revenue?
Thanks
Submitted: 2 years ago.
Category: Tax
Expert:  Sam replied 2 years ago.
Hi
Thanks for your question - I am Sam and I am one of the Uk tax experts here on Just Answer.
Ask for the employer to provide you with an amended P60 (of which they submit a revised copy to HMRC - which you can then follow up in writing - with a copy of yours asking for a revised review of the tax year (2011/2012 OR 2012/2013 - you do not indicate when in 2012 this bonus was paid and relevant for )
If you normally complete self assessment then when you have the revised P60 - you can amend the self assessment tax return (although if this is not possible as 2011/2012 is no longer possible to amend online) then again write - but ask for the employment pay and tax to be amended to the new figures
HMRC can then deal with any refund due
Let me know if I can be of any furtehr assistance
Thanks
Sam
Customer: replied 2 years ago.

thanks Sam - the bonus was paid in early 2013 so for the tax year 2012/2013 - I do post online assessments so this one should be fine to amend with a revised p60 is that a fair assumption?

Expert:  Sam replied 2 years ago.
Hi
Thanks for you response
The same advise applies - ask the employer to provide you with an amended P60 (and ensure you have it writing that they will also provide HMRC with a copy along with the revised return for the relevant period)
You can then amend your self assessment with the revised pay and tax figures.
Let me know if I can assist any further
But it would be much appreciated for you to rate the level of service I have provided (or click accept)
Thanks
Sam
Thanks
Sam
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