As a student, making the most of limited cash resources is a way of life. That said, you have to be smart and not leave easy money on the table. Claiming a tax refund from the revenue couldn't be easier and you don't have to pay a third party to do it for you. Using the "PAYE Anytime" feature on www.revenue.ie you can make claims for the last 4 calendar years.
To put it in the most simplistic terms, lets assume you started your first part time job in January 2015. You applied for a PPS number received your first monthly paycheck of €500. When calculating your tax and applying your PAYE tax credit, the revenue will assume that you earn €500 per month every month for the next 12 months (i.e. they spread out your tax credits over 12 months).
But what if you worked from January - May, then went travelling for the summer and got another job October - December. You get taxed for 12 months when you only really worked for 8 months. In this case, you will be due a tax refund and sometimes it can be substantial. Many students work part time and only for part of the year so they are excellent candidates for a refund.
Follow our simple steps below to get your refund completely free of charge - Once you sign up to "PAYE Anytime" it takes about 5 minutes to apply, 3-4 days to process and if you are due a refund a cheque will be posted to you within a week or so.
STEP 1: Log on to www.revenue.ie
STEP 2: Click on "Reqister for myAccount" and follow the instructions. A pin number will be posted to your home address and you will use this to register your account with the revenue.
STEP 3: Return to www.revenue.ie and click on "myAccount Sign In"
STEP 4: Enter your details as below:
STEP 5: Click on "PAYE Anytime"
STEP 6: Click on a year as below. You can make a claim for the previous 4 calendar years.
STEP 7: Click on "Request a P21 Balancing Statement"
STEP 8: Wait for 3-4 working days and (If you opted to receive correspondence electronically) your P21 Balancing Statement will appear in the "Your Requests History Section". If you did not sign up for electronic communications it will arrive in the post:
If your P21 Balancing Statement shows an overpayment of tax, a cheque will automatically issue to you in the post.
Enjoy spending the money!!!