Is a Tax Refund likely to succeed if one's Tax Code is OT-M1 (emergency tax code) after an IB SA (first timer in UK)? Or is it REQUIRED to get the tax code changed to something like 1257L before making the tax refund application??
| +194 | UBS preparing for a October Layoff Massacre | 173 | 5m |
| +73 | Work and Suicide | 34 | 24m |
| +52 | Is 7 years in banking enough to retire, or am I delusional? | 31 | 2h |
| +48 | A Message to Students Who Think this Job Will Fix Their Life | 11 | 3h |
| +46 | Do actual investment bankers despise IB TikTokers as much as I think they do? | 28 | 16h |
| +34 | MM IB --> NYC IB? | 17 | 2d |
| +28 | UBS IB Balance Sheet Set to take a Hit | 9 | 1h |
| +27 | Should I escape the matrix | 5 | 1d |
| +25 | Negotiating VP Sign-On Bonus (NOT Tied to Deferred Comp)? | 23 | 1h |
| +23 | LevFin, First Interview (Ever) Help! | 5 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
So you're on the emergency tax code because HMRC don't know enough about your income/tax status?
This is extremely normal. Regarding why it's happened after the IB SA... This could be that you haven't provided enough info, or the bank hasn't provided info...
Personally, I would get the correct tax code and then move forward with the refund application.
You can contact HMRC, but there is ALWAYS a 30 minute wait-time over the telephone, so factor this in.
If you have any queries related to career development, settling in, cultural differences, potential exits or lateral hires... Then please do reach out via the WSO Mentor scheme, I'd be happy to help.
Thank you very much! Anecdotally, do IB firms often give National Insurance Contribution refunds to interns who are non–UK nationals who only ever lived in UK just for the duration of the (10-week) summer internship (my reading of the HMRC website seems to imply that it's possible)?
This entire thread is gibberish to me
Labore nobis quaerat saepe eum et. Facilis voluptatem nemo incidunt quam eveniet aut est assumenda. Illum doloremque repellendus amet cum. Occaecati possimus omnis eaque consequuntur.
Enim nostrum similique velit voluptatem. Qui praesentium itaque omnis autem fugiat. Cumque quae asperiores maxime ex non qui.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...