Tax Confusion

Taxtrouble
Taxtrouble Posts: 3 Newbie
edited 17 July 2017 at 1:02AM in Cutting tax
I recently made an account on the gov.uk site to calculate my income tax, according to its estimate I should pay £500 in income tax this year. However I have been paying £100 each month which doesn't work out obviously.
For context I had two jobs until the end of may and all the income tax was coming out of job 1's paychecks.
Is this a case where they were taxing me higher because I had two jobs and it should even out or is there something wrong?

Comments

  • Caz3121
    Caz3121 Posts: 15,539 Forumite
    Name Dropper First Anniversary First Post
    Taxtrouble wrote: »
    I recently made an account on the gov.uk site to calculate my income tax, according to its estimate I should pay £500 in income tax this year. However I have been paying £100 each month which doesn't work out obviously.
    For context I had two jobs until the end of may and all the income tax was coming out of job 1's paychecks.
    Is this a case where they were taxing me higher because I had two jobs and it should even out or is there something wrong?

    £500 tax for the year would be due on a total annual income of £14k (total from both jobs and a personal allowance of 1150)
    If £14k salary on your main job you would have deductions of £99.88 - £41.52 tax and £58.36 national insurance
    If no tax was deducted from your second job you may have some tax to pay on that (20%)
  • chrisbur
    chrisbur Posts: 4,044 Forumite
    Name Dropper First Anniversary First Post
    Taxtrouble wrote: »
    I recently made an account on the gov.uk site to calculate my income tax, according to its estimate I should pay £500 in income tax this year. However I have been paying £100 each month which doesn't work out obviously.
    For context I had two jobs until the end of may and all the income tax was coming out of job 1's paychecks.
    Is this a case where they were taxing me higher because I had two jobs and it should even out or is there something wrong?

    In order to see what is happening need more details.

    From last payslip for each job your tax code/basis, taxable gross to date, tax paid to date and the week or month number.
  • For my current job the tax code is 599L, the gross for tax TD is £3337.32, tax paid TD is £367.40. That's from June so month 3. For my previous jobs final paycheck the tax code was 550T gross for tax TD was £745.40 Tax paid TD was £0.00 and it was tax period 8.
  • 14k is my combined salary for the year from the two jobs. I'm paying £50 for NI and over 100 as tax.
  • chrisbur
    chrisbur Posts: 4,044 Forumite
    Name Dropper First Anniversary First Post
    Taxtrouble wrote: »
    For my current job the tax code is 599L, the gross for tax TD is £3337.32, tax paid TD is £367.40. That's from June so month 3. For my previous jobs final paycheck the tax code was 550T gross for tax TD was £745.40 Tax paid TD was £0.00 and it was tax period 8.

    AS you now only have one job the best thing to do is get HMRC hopefully to merge your earnings under one tax code. The following are the HMRC instructions on what to do with your P45 from old second job.


    If an existing employee gives you a form P45 from a second job they have
    just left you should tell them to send the P45 Part 3 to:
    HM Revenue & Customs
    Regional Post Room
    St Mungo’s Rd
    CUMBERNAULD
    G67 1YZ
    We will review the tax code and issue an amended one if appropriate.
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