Taxback for Placement Students
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Start the taxback process …
Simply complete this simple form below to make your initial enquiry. A member of the TaxBack4Students team will then contact you for further information and to progress your application.
After you've submitted a review of your placement or internship experiences here on RateMyPlacement (picking yourself a £5 Amazon UK Gift Certificate in the process!), you can claim you tax back in five simple steps …
- Complete a quick enquiry form briefly letting us know the details of your placement or internship.
- You will then be contacted by a member of the TaxBack4Students team who will ask for your P60 or P45 documentation you should have received from your employer, plus any additional information required. In some cases we can even use payslips, so don't worry if you're a bit unorganised and have misplaces them.
- We will then calculate how much you are due and will contact you to let you know this amount and if you'd like us to proceed with your repayment claim.
- We will then complete all of the forms required for the repayment claim, which are then sent to HMRC. Once processed, in 6 to 8 weeks the repayment will come through! We charge a fee of 10% of the total repayment amount issued to you by HMRC and you will receive the rest! On average, the total claimed back is £650!
Why do repayments arise?
Tax repayments arise for a number of reasons, the main one being that if you only work part of a tax year, then you would not have had full relief of your tax-free personal allowance. This mainly applies to students who have been on placement or internships from university as placements always span two tax years in the United Kingdom.
Repayments could also arise from part-time employments, as incorrect tax codes could mean that you have been taxed excessively relative to the income earned.
How far back can we go back and claim for repayments?
We can go back up to five tax years to reclaim any overpayments in tax, this means we can go and assess your employments which took place in 2004/05 onwards. Any repayment of tax will be made with interest on top.
What documents do I need for the free assessment?
We will require sight of your P60 and/or P45 documents, both which would have been issued to you by your employers. In some cases we can work with payslips to do the assessment.
Don’t worry, even if you have lost all documents relating to the employments, we can advise you on how to obtain duplicates, which will come to you in as little as five working days.
I need some advice, can you help?
Absolutely. We have a team of qualified charted tax advisors on hand to assist with your every need. Whatever the enquiry may be, you can be sure that our team will have the answer your looking for, and yes this will be free of charge, just another reason why TaxBack4Students are the number one student tax resource.
How much do you charge for your service?
We use a fair policy whereby we charge a fee of 10% of the repayment amount issued to you by HM Revenue and Customs. For this fee we provide an in-depth tax assessment, completion of all forms and documentation for the repayment claims, submission of the same to HMRC, liaising with HMRC until payment is in your safe hands and tax advice if required.
If there is no repayment then the service would be free of charge.
How long does the process take?
Once the claim is sent into H M Revenue and Customs, it takes roughly 6 to 8 weeks for it to be processed. We advise HMRC to copy you into every letter they send us, this way you are continuously kept in the loop with what is going on.
Who regulates TaxBack4Students?
We are regulated and are part of the Association of Taxation Technicians Anti-Money Laundering Regulations 2007. This means that our business has been vetted and is continuously being checked by the regulators. The tax advisors we use are all qualified Chartered Tax Advisors and Accountants (highest professional qualification you can have in the field of tax in the UK) so everything they tell you will be correct, accurate and in line with the new tax rules.
We are also a registered tax agent with HM Revenue and Customs, our agent code is 070 5TK.
I completed a placement at IBM and I emailed Taxback4students to see if I would be eligble for a repayment. Their response time was excellent and there was little paperwork for me to complete. The money came through to me within 7 weeks – very satisfied and highly recommended.
Miss C A Smith, LSE University
I used taxback4students in association with RateMyPlacement.co.uk – I worked for Mercedes Benz but I had lost my P60 and P45. The tax advisor got in touch with my payroll department and managed to get an earnings statement for me, which showed that I was due £850, the claim went in and 6 weeks later I had my money wired to me. It was good as I spoke to someone who actually knew what they were talking about rather than someone at a call centre.
M Krusterman, Glasgow University
I completed my placement at BMW and I already knew that I had paid too much tax. I did contact the Revenue for some help but I didn’t get anywhere. I contacted Taxback4students and they managed to get back £589 of overpaid tax. The service was simple and easy, just what us students need. Definitely a winner!
Miss S Jannis, Brunel University
I was on placement at HP and I got an email from Taxback4students via RateMyPlacement.co.uk informing me that I could get some tax back, to my surprise they managed to get me back £650, which was just in time for Christmas
B Henkins, Birmingham University
A quick, efficient and cost effective way that got my tax back, I didn’t have a clue on what to do or who to contact. Taxback4students took care of everything; all I did was sign two pages – marvellous.
R Leonard, Plymouth University
I just want to say that this service does exactly what it says on the tin, I went on an internship at Goldman Sachs and found out that although I earned more than the tax free personal I was still due a tax repayment, which was a very good surprise.
U Aniagwu, Brunel University
I had been working part time in a local restaurant for a number of years while I was studying at university. I saw Taxback4students at the Earls Court exhibition and had a quick chat with one of the advisors. They managed to do a retrospective claim back for three years and I got back about £855, which helped towards purchasing my new car!</p>
Mr M Lee, Bath University
- TaxBack4Students will only act as agent in relation to your tax matters for the years stated in the emails between yourself and the TaxBack4Students representative.
- After dealing with the specified tax matters for the years concerned, TaxBack4Students will remove themselves as agent from HM Revenue and Customs records.
- The processing of the tax repayment claim takes on average 6 to 8 weeks. The repayment can take longer in cases where documents need to be sent to different tax offices around the UK. Public holidays may also affect the time for repayment.
- We will only be working on your income tax affairs and therefore take no responsibility for other direct/indirect taxes levied by HM Revenue and Customs. Payment of funds will be made to you via cheque or online bank transfer as soon as funds are received from HM Revenue and Customs. You may specify to your representative which one you prefer.
- We are regulated by the Association of Taxation Technicians Anti-Money Laundering Regulations 2007.
- Once a tax repayment has been processed, HM Revenue and Customs will send you out a notification letter to your home address. We will also receive a copy of this calculation. This means you will continuously be kept informed with what is going on with your claim.
Agreement
- I agree that all the information provided to TaxBack4Students is to the best of my knowledge and is a true and accurate account of my tax affairs.
- I have not for the mandated years (a) approached HM Revenue and Customs about my tax affairs and been refused repayment for any reason (b) authorised anyone else to do it on your behalf, if so we can recover our administration costs of £20.00.
- If I receive the refund direct from HM Revenue and Customs, I agree to pay over the commission to TaxBack4Students.
- I agree that the repayment amount stated by TaxBack4Students is only a estimate and HM Revenue and Customs will have the final decision in all cases, unless otherwise stated.
- If my circumstances change or any of my details change, I will update TaxBack4Students accordingly.