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My first tax return

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I leave my company at the end of the month, and will need to complete my tax return for the year early 2017, the person who handles the financial side of the business is busy and sometimes not very helpful, my question is what information will I need for my tax return? and presumably they should be able to give me this now?

From your employer the most important document you'd need is a summary of your income earned and tax paid.

This is usually provided on a document called "50 Twee" from your employer. Top half will show your tax ID and address, and your employers tax ID. Bottom half shows how much income you've earned and how much tax deducted, as well as how much national insurance and how much pension contributions. This info is essential for completing a tax return.

Bit puzzled you say this would be your first tax return? What did you do last year? Do you have a tax ID?

I really would make sure you speak to whoever looks after this at your company before you leave. They should be able to adjust your tax payment this month so that you have paid the correct amount for the full year based on your leaving date, which also assumes this will be your full year's income. i.e they should do a final tax calc for you. Then if you do nothing else all year your tax will be right and nothing to worry about. Just file at the end of the year. Otherwise if they don't do this final calc you'll either have extra to pay or need to reclaim as part of your tax return in early 2017 for year 2016

BTW If you do then get another job, and earn more income in the year your new employer can adjust your tax payments again for you.

  • Author

Many thanks Fletchsmile, my company have completed the tax return for me, all I had to do is sign. This will be my 4th tax return. Many thanks for the tip to ask for a "final" tax calculation this could have been an issue other wise.

If you haven't got already, ask your employer for copies of your previous year tax returns that they filed for you - assuming they've kept copies. Unlikely you'll need them but you never now.

The other things they will be useful for are: 1) will show your tax ID 2) you can see which items went where on the tax return as a reasonableness check for filing in 2017, and they'd help if you do it yourself next time. The Revenue department are usually pretty helpful though and will often help foreigners/ do their basic returns for them if they're stuck

Cheers

Fletch :)

Edited by fletchsmile

  • Author

Fletch, the company will give me a tax withholding document (not sure what means) I do have my last tax forms so that will help, also when I arrived I looked into the different tax bands that would be applied to my salary and my calculation was not far out, my concern is I can ask a 100 questions but never ask the right one, Thai culture does not think to offer more than you have asked.

Many thanks for your helpful suggestions.

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