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Just started work, i am being taxed(recent graduate)

mrbg07546
mrbg07546 Posts: 290 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Employment, jobseeking & training
I am a recent graduate, who hasnt worked previuosley this finaicial year, however i am working in a job where sometimes i do 20 hours a week, other times 50(started job in sept)..., i started in september, and in my recent payslip i noticed tax...

by the end of the finicial year, its unlikley i would have gone over the threshold(about 5k i heard??), if so it will only be alittle over.

would i have to wait till the end of the year to get my tax back?? because im in huge debt now and really need it back now..

any advice
«1

Comments

  • dmg24
    dmg24 Posts: 33,920 Forumite
    10,000 Posts
    What is your tax code?
    Gone ... or have I?
  • SandC
    SandC Posts: 3,929 Forumite
    Part of the Furniture 1,000 Posts
    The problem is that they don't factor the tax free allowance in so that you work tax free up until the threshold is reached, but tax on what you have earned then correct it or refund at the end of the tax year. I think you will have to wait.
  • Incisor
    Incisor Posts: 2,271 Forumite
    1,000 Posts Combo Breaker
    Find out the tax office your employer uses and speak to them about getting your tax code sorted.
    After the uprising of the 17th June The Secretary of the Writers Union
    Had leaflets distributed in the Stalinallee Stating that the people
    Had forfeited the confidence of the government And could win it back only
    By redoubled efforts. Would it not be easier In that case for the government
    To dissolve the people
    And elect another?
  • dmg24
    dmg24 Posts: 33,920 Forumite
    10,000 Posts
    SandC wrote: »
    The problem is that they don't factor the tax free allowance in so that you work tax free up until the threshold is reached, but tax on what you have earned then correct it or refund at the end of the tax year. I think you will have to wait.

    Not strictly true.
    Gone ... or have I?
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    When you started, you should have signed for P46 to say this is your first job. Your employer should then have put you on code 603L which will mean you will pay the right amoutn of tax by the end of the year. If you are on 603L week 1 or any other code, this is incorrect and you should take it up with your tax office. Don't wait until the end of the year!
    £705,000 raised by client groups in the past 18 mths :beer:
  • ruby_eskimo
    ruby_eskimo Posts: 4,814 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    In the past when I've been taxed incorrectly, it has been refunded into my next pay check, sometimes automatically other times with prompting. I would talk to your employer about this and they should be able to sort it out for you.
    Emergency Fund - £8572.39 / £10,000 :: Mortgage OP 2025 - £
    LISA 24/25 - £3200 / £4000 :: NSD 2025 - 2 / 150 :: Books Read: 1 / 52 :: Decluttering - 4 / 1000
    Engaged 9th December 2010 :: Married 29th October 2015 :: Bought a House 13th January 2017
  • SandC
    SandC Posts: 3,929 Forumite
    Part of the Furniture 1,000 Posts
    dmg24 wrote: »
    Not strictly true.

    I thought so, hence the 'think'.

    I just got the impression that the OP thought they should not be taxed at all because they are unlikely to earn the tax threshold over the course of the year until tax year end.
  • mrbg07546
    mrbg07546 Posts: 290 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    my tax code is 603L W1 , now i think we have established i am on the wrong code, what should i be on? should i contact the employee? tax people? anyone else?
  • chrisbur
    chrisbur Posts: 4,273 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    mrbg07546 wrote: »
    my tax code is 603L W1 , now i think we have established i am on the wrong code, what should i be on? should i contact the employee? tax people? anyone else?

    Did you complete a P46 and if so which option did you choose A or B ?
  • fengirl_2
    fengirl_2 Posts: 4,530 Forumite
    If you signed the P46 to say this is your first job, contact your employer. If you didn't, contact HMRC
    £705,000 raised by client groups in the past 18 mths :beer:
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