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??
| +228 | Downfall of Qatalyst | 44 | 2h |
| +168 | UBS IB 26Q2 a Disaster! Advisory Revenue Down 23%, Capital MarketsDown 5% | 22 | 3d |
| +111 | UBS Americas IB: The Kids’ Table of Wall Street | 15 | 20h |
| +81 | Lincoln International Return Offers | 42 | 1d |
| +53 | so confused about 28 SA timeline | 27 | 6d |
| +52 | London IB BB is a challenge | 33 | 2h |
| +38 | momentum of Rx groups | 12 | 1m |
| +37 | Fired during interview | 6 | 1d |
| +36 | [WSO MODS] Please Delete This BS Host Books Spam! | 2 | 5d |
| +30 | VP Lifestyle at Top BB Coverage Groups | 16 | 38m |
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
Aut non laborum nobis quaerat laudantium corrupti molestias sed. Officia deserunt deserunt vel est. Quo consectetur est dolorem voluptates corporis minus. Et quia iure ipsum deleniti enim et.
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...