Moorron
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| posted on 28/3/11 at 12:38 PM |
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Ijncome tax questions
Hi guys any accountants here or anyone who can help with the following?
If trying to work out how much tax ive paid this year, but i feel ive over paid and want to know what is owed to me and when i will get it back.
Started a job after easter 2010 (so first income in 2010-2011 tax year) and worked for 5 months earning £10241. I paid tax on every monthly wage on
the tax code 674L. I then was made redundant with no monies, took a 2 week holiday and then signed on the JSA which i was on until Feb 27, 2011. Now
ive started a new job but i think they are using an emergency tax code as im being taxed still.
My total income for 2010-2011 is:
10241 first job
1542 jsa (no taxed paid?)
and then 2700 for this new job upto the end of this tax year.
Yet i will have paid £1883 in tax but i think it should be about £1546 based on:
(14470-6740) x 0.2
Am i close or totally wrong, how do i go about getting it back, should i wiat until i recieve a P60 from my new job and then make my claim or should i
do it now before the rush?
Cheers
Sorry about my spelling, im an engineer and only work in numbers.
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mad4x4
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| posted on 28/3/11 at 12:49 PM |
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What about National insurance duductions are they included on the p60 or seperate item?
Scot's do it better in Kilts.
MK INDY's Don't Self Centre Regardless of MK Setting !
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blakep82
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| posted on 28/3/11 at 01:29 PM |
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whats your current tax code on your payslips?
if your local job centre is like mine, there might be a tax adviser dept in there. at mine you go upstairs and there'2 women there who deal with
tax questions. really good they were last year. i' m sure they're linked with the job centre, but i don't know if every job centre
has one
[Edited on 28/3/11 by blakep82]
________________________
IVA manual link http://www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES&itemId=1081997083
don't write OT on a new thread title, you're creating the topic, everything you write is very much ON topic!
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chrisxr2
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| posted on 28/3/11 at 02:40 PM |
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look online
look online for one of the tax/ national insurance calculators.
Life moves pretty fast, if you don't stop and look around once in a while, you could miss it.
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Alfa145
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| posted on 28/3/11 at 03:07 PM |
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or just give them a call and ask them for more info and a calculation as you think you've overpaid.
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Alan M
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| posted on 28/3/11 at 03:36 PM |
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Basic allowance is 6470, not 6740; tax code should be 647L
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Moorron
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| posted on 28/3/11 at 06:34 PM |
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oops fingers got stuck tot he keyboard after eating some chocs.
I have paid all NI which isnt included in my calc for tax. I just didnt know what to do regarding questioning it, if i should wait or ask now even
without my P60. I have all records (P45 from first job, P45 from Jobcentre which shows no tax paid on their payments and pay slips from my current
job) which is what i have used to see how much i have paid so far and it seem about £300 too much.
Will wait for this weeks payslip and then ask them i think.,
Cheers
Sorry about my spelling, im an engineer and only work in numbers.
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PSpirine
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| posted on 28/3/11 at 06:56 PM |
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Call your Tax office / HMRC and tell them you're working and are on an emergency code. They'll put you back on 647L and you'll get a
refund/allowance the following month.
I had a similar thing when I just started the job (first month was on an emergency code and overpaid silly due to a joining in bonus). All came back
the following month (deductions on payslip were far less) once code was corrected. Very helpful people actually on the other side of the phone.
Must've been a good day.
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