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Tax Question

fmgod Avatar
5y, 6m agoPosted 5 years, 6 months ago
I got my P60 today and it says i've earned £6715.65 in the last year and I've been taxed 1119.80 and in total I've recieved 5599.85, should I not have a bit more due to the tax threshold being £6,475 for last year and you not getting taxed on the first £6,475 so I should only get taxed on the remaining of 6719-6475

Help please, thanks
fmgod Avatar
5y, 6m agoPosted 5 years, 6 months ago
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1 Like #1
You might have been taxed at week 1.
IE each week they tax you as if its you first week..
So if you earned more than £125.00 in one week they taxed you on that.
Also it might be national insurance youve been charged not tax.
Ring tax office you might get a refund its not that hard.
banned 1 Like #2
so you didnt receive any benefit payments etc (e.g. JSA)?
#3
csiman
so you didnt receive any benefit payments etc (e.g. JSA)?

For a short period of time, also any payments will be skewed as I recieved nothing for six months and then was paid in a lump sum, some of this money would be for the previous finaccial year which would be wrong as it would count against this year 2010-2011 fiscal year
1 Like #4
fmgod
csiman
so you didnt receive any benefit payments etc (e.g. JSA)?


For a short period of time, also any payments will be skewed as I recieved nothing for six months and then was paid in a lump sum, some of this money would be for the previous finaccial year which would be wrong as it would count against this year 2010-2011 fiscal year


Chances are the lump sum confused the system as they may have thought you would be getting similar payments in future, which of course did not happen.

My advice is to contact your tax office, be polite and explain that you believe a mistake has occurred. If it has, chances are you'll see the difference in a future payslip or if they have done it correctly then they will explain. But be polite and nice is the best tactic with them in my personal experience.
#5
Even if the JSA went through which would say bring my earnings to 8-9k, , as if that is the case surely I should only be taxed on £8.5k-£6.5k and so £2k and tax of £1000ish wouldn't be correct offer 2k.

thanks
banned 1 Like #6
fmgod
csiman
so you didnt receive any benefit payments etc (e.g. JSA)?


For a short period of time, also any payments will be skewed as I recieved nothing for six months and then was paid in a lump sum, some of this money would be for the previous finaccial year which would be wrong as it would count against this year 2010-2011 fiscal year

JSA is taxable income and is liable in the tax year in which it is actually paid. Add that to your gross for tax calc purposes
1 Like #7
I've just found my tax and NI calculator (on one of my student DVD's) and it says that tax paid should be 20% of £240 (which is £48) and NI should be 11% of £1000 (which is £110) and so therefore you should have paid £158.

It clearly pays to be a financey type student sometimes X)

As I said, explain nicely to the tax office and see how you get on.
#8
csiman
JSA is taxable income and is liable in the tax year in which it is actually paid. Add that to your gross for tax calc purposes

So about 8-9.5 ish somewhere inbetween, which would mean 1,119 tax on that 9k, but wouldn't the first 6k and a bit be tax free and thus the tax should on be on the remaining left, so 1k is too much tax on the remaining amount
1 Like #9
csiman
fmgod
csiman
so you didnt receive any benefit payments etc (e.g. JSA)?


For a short period of time, also any payments will be skewed as I recieved nothing for six months and then was paid in a lump sum, some of this money would be for the previous finaccial year which would be wrong as it would count against this year 2010-2011 fiscal year

JSA is taxable income and is liable in the tax year in which it is actually paid. Add that to your gross for tax calc purposes


JSA should be on the P60 as it you get issued a P45 for the new employer when you come off JSA. Or should anyway, but then knowing JCP...
#10
moose109
I've just found my tax and NI calculator (on one of my student DVD's) and it says that tax paid should be 20% of £240 (which is £48) and NI should be 11% of £1000 (which is £110) and so therefore you should have paid £158.

It clearly pays to be a financey type student sometimes X)

As I said, explain nicely to the tax office and see how you get on.

If you're correct it means I've paid nearly a grand over the top.
#11
Just give HMRC a call.......they will be able to see if you have paid too much tax and generate a refund for you if you have,they are not scary to speak to at all!!

Have a look at one of your payslips,it may be that you are paying at basic rate,it will show as 'BR',if that is the case you will almost certainly be due a rebate.
#12
muckypup
Just give HMRC a call.......they will be able to see if you have paid too much tax and generate a refund for you if you have,they are not scary to speak to at all!!

Have a look at one of your payslips,it may be that you are paying at basic rate,it will show as 'BR',if that is the case you will almost certainly be due a rebate.

Yeah I'm on BR now and was for my Sept-Xmas Job.
#13
fmgod
moose109
I've just found my tax and NI calculator (on one of my student DVD's) and it says that tax paid should be 20% of £240 (which is £48) and NI should be 11% of £1000 (which is £110) and so therefore you should have paid £158.

It clearly pays to be a financey type student sometimes X)

As I said, explain nicely to the tax office and see how you get on.


If you're correct it means I've paid nearly a grand over the top.


I can give you the accurate figure only if you go through every payment made by both JCP and your employer, which would take a long time to sit down and figure out.

Do you have your tax office phone number to hand? If not do you know which one it is?
#14
fmgod
muckypup
Just give HMRC a call.......they will be able to see if you have paid too much tax and generate a refund for you if you have,they are not scary to speak to at all!!

Have a look at one of your payslips,it may be that you are paying at basic rate,it will show as 'BR',if that is the case you will almost certainly be due a rebate.


Yeah I'm on BR now and was for my Sept-Xmas Job.


That'll be why, BR doesn't take into consideration your tax allowance. So yes, as Muckypup says, you'll be owed some money. It may just be a refund in a future payslip rather than cold, hard cash though if you still have a job.
#15
fmgod
muckypup
Just give HMRC a call.......they will be able to see if you have paid too much tax and generate a refund for you if you have,they are not scary to speak to at all!!

Have a look at one of your payslips,it may be that you are paying at basic rate,it will show as 'BR',if that is the case you will almost certainly be due a rebate.

Yeah I'm on BR now and was for my Sept-Xmas Job.
I take it that you did not fill in a P46 when you started your job.........give 'em a call,they will sort it for you.8)
#16
muckypup
fmgod
muckypup
Just give HMRC a call.......they will be able to see if you have paid too much tax and generate a refund for you if you have,they are not scary to speak to at all!!

Have a look at one of your payslips,it may be that you are paying at basic rate,it will show as 'BR',if that is the case you will almost certainly be due a rebate.

Yeah I'm on BR now and was for my Sept-Xmas Job.
I take it that you did not fill in a P46 when you started your job.........give 'em a call,they will sort it for you.8)

I think BR is the right tax code for me now that I will be working a full year, it's just that BR tax code was based me having both jobs for a full years salary rather than for x amount of months per year


Edited By: fmgod on May 19, 2011 13:21
#17
fmgod
I think BR is the right tax code for me now that I will be working a full year, it's just that BR tax code was based me having both jobs for a full years salary rather than for x amount of months per year

Did you have 2 jobs at the same time ie work for 2 different employers?
I work for 6 different companies and have my tax code registered with the one I do most work for and pay basic rate(BR) on all my other work.If i do not use all my allowance with the main employer I am still due a rebate.

When you started work did you complete a p46 stating whether it was your only job or you work for someone else as well?
If you have worked for more than one employer the last financial year,wait until you have received all the p60's you are due then contact the tax office,they will then sort a rebate if applicable.

Edited By: muckypup on May 19, 2011 13:35
#18
muckypup
Did you have 2 jobs at the same time ie work for 2 different employers?
I work for 6 different companies and have my tax code registered with the one I do most work for and pay basic rate(BR) on all my other work.If i do not use all my allowance with the main employer I am still due a rebate.

When you started work did you complete a p46 stating whether it was your only job or you work for someone else as well?
If you have worked for more than one employer the last financial year,wait until you have received all the p60's you are due then contact the tax office,they will then sort a rebate if applicable.

Na never had two jobs at the same time

No my contract finished at the previous place so I was a free agent so to speak bu tI gave them a few p forms

The P60 I've got has got what I've earned in my contract job and my previous in the last year
#19
good luck then, let us know what they say. I'll bet you'll get a few hundred back.

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