first job

redpin_2

i heard from somewhere i get a tax rebate for my first job, up to a certain amount as im not suposed to be paying tax until my first £2000 or something. is this true, if so what is recommended to get the money back

thanks in advance

quick situation overview:
>had jobseekers between may 20th until october 20th 2008, got £981 in total
>working since oct 2008, got £3000 in total via salary . been paying tax since i started working

tinkerbell84

You should get around £6k a year tax free, which is divided into 12 months. So each month you can earn around £500 and not be taxed on it.

As you've earned more than £500 per month, you should be paying tax.

What is the tax code on your payslip?

redpin_2

ah cheers mate, would that mean i can get tax back this year, because between now and jan i've earnt £3566 through wages

my tax codes; 0603L WK1

CLAPTON

just to be clear

when did you start your first job?
how much have you earned in total from april 2008 to the present?
how much tax have to paid ?

you should have a tax code of 603L without the WK1.

redpin_2

CLAPTON wrote: »

just to be clear

when did you start your first job?
how much have you earned in total from april 2008 to the present?
how much tax have to paid ?

you should have a tax code of 603L without the WK1.

1) 20th october 2008
2) £3,566.12
3) £502.80

i get paid£371 every week, £50 tax and £30 NI leaving £290 accessible pay

theres a space between the 603L and WK1, but both are on the same line

CLAPTON

your tax code should be 603L without the Wk1... so you are paying too much tax

phone up the HMRC and explain that your your code is 603L Wk1 and it should be simply 603L (cumulative).

From the information you provide, you will earn in total around 8000 this tax year, so your total tax for the whole tax year should only be around 400.
Once you tax code is changed you will automatically get a refund on the overpaid tax.

Your NI is correct.

redpin_2

i love you. thanks for all the help clapton, i'll get onto them straight away :beer: