Few questions on Tax

MarkPaterson

I have seen a post on this thread through google from 2005 and got kind of lost, plus it has been 13 years since someone answered on it so here goes.

I have been in my current job 6 months (September 2017) and I have a few questions I would like to have answered.

1. This question is regarding my tax code. I have calculated my income over a years period as £16,426.80 before any deductions in my current job but in my previous job before that I was probably earning £200 per week. By the end of this tax year (17-18) I will earn roughly around £13,500. My tax code is S1150L. I know this tax code means I can earn £11,500 before being taxed. Will this mean that the £2,000 I have paid over that will be taxed and that I will get a rebate on any tax paid before going over £11,500?

2. I am going to be doing a lot of overtime between now and the end of April this year and works out roughly at £785.70 over that time period (97 hours). Would someone be able to tell me what the tax deduction would be on that along with National Insurance and does earning this count towards my pension contribution.



Sorry if this reads horrendously, I am not very good at explaining this type of thing.



Thanks in advance for your replies,




Mark

00ec25

MarkPaterson wrote: »

I am not very good at explaining this type of thing.

so your question is: how much tax and NI will be payable on your earnings in the tax year 6/4/17 - 5/4/18

answer: impossible to say since you have not provided the relevant info

what was your gross earnings on your P45 in the previous job?
what tax was paid per your P45 in your previous job ?

how much will you actually earn in your current job to 5/4/18?

chrisbur

MarkPaterson wrote: »

I know this tax code means I can earn £11,500 before being taxed. Will this mean that the £2,000 I have paid over that will be taxed and that I will get a rebate on any tax paid before going over £11,500?

Mark

No way to really answer this on the details given but regarding the part quoted above this is not correct. Assuming you are on a cumulative tax code you will be able to earn £11500 before having to pay by the end of this tax year. Up until then this allowance is given to you 1/12 at a time for each tax month so in say September you would only have half of your £11500 as a tax allowance.
If you want to know if your tax position is correct you need to take your last payslip and advise taxable gross to date,tax paid to date, tax code and basis (usually comes after tax code) week or month number, previous pay and previous tax. Then give the full details of pay and tax (may be two sets of figures) along with tax code details from part 1A of your P45.