Income Tax Overpayment Question!!!

sjoh1271

chrisbur wrote: »

What happens will depend on the basis that your tax code is being applied on. If your code is on a cumulative basis then each month the amount of tax you owe up to that month is worked out and from this is deducted how much you have paid so far, the difference is the tax you pay that month. Provided that you are on the correct code then you will pay the correct tax. If your code is on a month 1 basis then each month is looked at separately and you would be taxed as if your pay that month was what you receive all year. In this case you would pay to much tax and would need to sort it out at the end of year, unless you can get onto a cumulative tax before that.

Is this something payroll will be able to tell me? Do you know how it is normally applied?

chrisbur

You should be able to tell from your payslip, usually it is shown after your tax code. Non-cumulative codes are usually shown as X or 1 or Mth1 or non-!!! or something like these. If in doubt your payroll dept will tell you.
Assuming that you have not started recently or had and problems with your tax cumulative is the code I would expect you to be on.

chrisbur

chrisbur wrote: »

You should be able to tell from your payslip, usually it is shown after your tax code. Non-cumulative codes are usually shown as X or 1 or Mth1 or non-!!! or something like these. If in doubt your payroll dept will tell you.
Assuming that you have not started recently or had and problems with your tax cumulative is the code I would expect you to be on.

The !!! is the first three letters of the word cumulative.

sjoh1271

It doesnt have any of those after it and haven't had any issues before so assume its cumulative. thanks for your help!