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#11 |
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Mega Poster
Join Date: Jul 2008
Location: Sheffield
Posts: 10,274
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Cheers both of you, will look at my p45
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#12 |
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Join Date: Jun 2009
Location: Turre, Almeria
Posts: 668
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I've had 3 tax codes in the same week, two of which arrived on the same day.
always check your codings.
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"It's not the years in your life, it's the life in your years." Currently - Fighting the urge... seen a nice Triumph America Previously - Honda CB125, Honda CB400-4 & BSA B40, Moto Guzzi 850, Yamaha RD250, Suzuki GT380, Kawasaki Z1B, Kawasaki Z650, Honda VFR, Triumph Street Triple R. |
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#13 |
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653L
I got £60 put onto my tax free amount, due to flat rate job expenses?? Anyone any idea what this is? |
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#14 |
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Mega Poster
Join Date: Mar 2004
Location: Not in Yorkshire. (Thank God)
Posts: 4,116
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Generally I think the revenue try hard to get it right. Of course mistakes happen, I can honestly say that despite my moans that I pay far too much tax (Government policy) they do tend to take the right amount.
However, twice I have had nice £1000+ cheques sent to me out the blue when they realise they have not quite got it right. such as taxing me for two cars when I had actually changed cars etc.
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Not Grumpy, opinionated. |
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#15 |
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#16 |
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I was getting taxed last year some months, when I was still within my threshold.
Think I should phone and ask? |
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#17 | |
Guest
Posts: n/a
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you can always call and ask. |
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#18 | |
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Employees can recieve different notification to the employer, and whilst we can't use the notifications you receive, if you get a few within a couple of weeks call your HR/Payroll department to see what they have received if any! and also which was the last code they received so the one they will use! Sally there is a number you can call where you don't have to give any personal details and just ask the question. So it doesn't pull up your record.... will try find number |
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#19 |
Member
Mega Poster
Join Date: Jun 2005
Location: High Wycombe, where the chair factories used to be
Posts: 1,479
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Folks - as a bean counter I can simplify this a bit.
Take a piece of paper (or spreadsheet) and on the left hand side list your income. This will be your annual pay (look on your pay slip, may be called "base" or "reference" pay) plus any additional income or "benefits in kind". BIK is not smutty by the way - it includes company cars, health insurance, or anything else you get as a perk you would otherwise have had to pay for. Add to this side any underpayments the Revenue may have notified you of from previous years*. Add also any additional bonus or commission payments you may get over the year as these all count. On the right hand side list your allowances and deductions. Everyone gets a personal allowance as already mentioned by a few posters, but you may get others. Include on this side any OVERpayments you have made in previous years*. The total of the left hand side, minus the total of the right hand side, equals your TAXABLE PAY - the amount you actually pay tax on. It is this that forms the basis of your tax code. All this should be on your coding notification. CHECK IT CAREFULLY. If anything is wrong or missing get in touch with your tax office straight away. By the way, if HMRC use estimates for any reason it can take years for the under/over recovery to stop. When our company cars were taken back and we got allowances instead it took three years for the "adjustments" to stop on my code. *both under and over payments have to be agreed by HMRC in advance for them to be used them in your code computation.
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