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paying tax

tracey.g Avatar
7y, 10m agoPosted 7 years, 10 months ago
this is my first job which i have been in now for 2 yr in feb i have paid tax since the day i started people are telling me that i shouldnt have paid tax until i had made a certain amount and i should claim it back can anyone tell me if this is right please thankyou tracey
tracey.g Avatar
7y, 10m agoPosted 7 years, 10 months ago
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#1
how much have you been earning per week and how old are you?
#2
you get the first 5k (ish) tax free, then you pay tax on the remainer you earn during the year. But they spread the tax you pay on the remainder over the whole 12 months.
#3
dmissy13
how much have you been earning per week and how old are you?


164 wk 38 yrs old
#4
You managed to get to 36 without a job ,Wow,
#5
tonyg1962
You managed to get to 36 without a job ,Wow,


i was a house wife lol and a mother
#6
tracey.g
i was a house wife lol and a mother


Not dissing you,Wish i could have done it myself but im a bloke,
#7
Tax is deducted cumulatively over the earnings for the whole year but only paid on a certain amount each month to make it accurate. If you leave/cut your hours or lower your pay over that year it automatically is corrected each time you get paid.

At the financial year end you get a P60 and a copy of that goes to the Inland Revenue who review it and make changes to tax codes if necessary.

The only time you want to look independently into claiming back tax is if your coding is BR.

Hope that helps, if you need any more info let me know, I run a payroll bureau.
#8
you can earn the 1st £6035 per year tax free. anything over that you pay tax on.
your tax code is likely to be 603L, if it isnt id be looking at why.....

164 x 52 = 8528 - 6035 = 2493

so you pay tax on £2493, the rate of which is 20% = 498.60 per year
498.60/52 weeks = 9.59 ish tax per week.....


Rob
#9
sorry i didn't mean to post and run, what they said lol

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