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Am I paying too much tax? Plz Help

save'n'spend
Posts: 12 Forumite
in Cutting tax
Hi to all,
I didn't work from April to Late September of the current tax year and didn't claim any benefits at all during this time
Since September I have worked at the same job on tax code 474L W1. I was told the W1 is emergency tax and I expected it to dissapear soon after I filled in a P46 form. The W1 code remains to date
My wage is around £175 per week, sometimes more/less so I pay tax the majority of weeks, which varies a lot. But I have calculated that by the end of the current tax year my gross income will probably be less than £4,745
Will I be able to claim all the tax back if by April my gross income is less than £4,745?
If I can how should I go about doing this?
Also should I worrry about the W1 code?
Any help much Appreciated
I didn't work from April to Late September of the current tax year and didn't claim any benefits at all during this time
Since September I have worked at the same job on tax code 474L W1. I was told the W1 is emergency tax and I expected it to dissapear soon after I filled in a P46 form. The W1 code remains to date
My wage is around £175 per week, sometimes more/less so I pay tax the majority of weeks, which varies a lot. But I have calculated that by the end of the current tax year my gross income will probably be less than £4,745
Will I be able to claim all the tax back if by April my gross income is less than £4,745?
If I can how should I go about doing this?
Also should I worrry about the W1 code?
Any help much Appreciated
0
Comments
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Now please don't quote me on this - as I am definitely no tax queen!
But... a few years ago, I worked out that I had paid too much tax in the tax year, and got in touch with the Inland Revenue (I was PAYE at the time). They just asked me to send in my P60 at the end of the tax year, and then they sent me a cheque for the overpayment.
I think you will be able to do the same....0 -
savenspend wrote:Hi to all,
I didn't work from April to Late September of the current tax year and didn't claim any benefits at all during this time
Since September I have worked at the same job on tax code 474L W1. I was told the W1 is emergency tax and I expected it to dissapear soon after I filled in a P46 form. The W1 code remains to date
My wage is around £175 per week, sometimes more/less so I pay tax the majority of weeks, which varies a lot. But I have calculated that by the end of the current tax year my gross income will probably be less than £4,745
Will I be able to claim all the tax back if by April my gross income is less than £4,745?
If I can how should I go about doing this?
Also should I worrry about the W1 code?
Any help much Appreciated
You will either get a tax refund at the end of the tax year, or the Inland Revenue will issue you with an amended tax code for the next year.
You should pop down to the Tax office in April or My with yourP60 and explain to them and they will double check the figures etc.0 -
Thank you for your replys
Don't mean to sound thick, but I havent got no P60 form. Where would I need to get this from?0 -
Hi All
If you need to check the amount of tax and national insurnace you should pay on your income and you know your tax code visit;
https://www.listentotaxman.com
Here you will find an easy to use form and it calculates it correctly to the last penny.
Hope this helps0 -
thanks i will do that now0
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First of all did your employer send the P46 to the tax office to let them know you are now employed by them. Just because they are operating a 474L wk1 mth1 code does not mean it was issued by the tax office unless you received a coding notice from the Inland Revenue.
Second if they did does the tax office know you had no income for the first part of the tax year. Usually if they receive a P46 and see that there is a gap in the employment history they will send out a P91 or P92 employment history form for you to complete so that they have a complete record with no gaps. On return of that they would review the tax code and possibly amend it to 474L cumulative.This would mean once your employer started using it you would receive any refund due to you through your salary. I would check with your tax office to see what they have on their records.
If you don't want to do that you can wait until you receive your P60 (end of year statement of earnings) from your employer in April/May and send a copy to your tax office and ask them to review the 2004-2005 tax year.
Note if the tax office do have a record of you as employed by your current employer you should shortly receive a new coding notice for the 2005-2006 tax year. The normal personal allowance for 05/06 will be £4895 giving a cumulative tax code of 489L.
Good luck getting it sorted out.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Hi
I have paid too much tax in past due to being taxed on code BR as though i had a 2nd job(i didn't).
I rang my tax office quoting my NI no and they told me where my tax records were(they are in the town of your employer not your own town) and gave me their no to ring.
I did this and was asked to put an explanation in writing and then they sent me a cheque for the overpayment.0 -
Think I will be calling the tax office and see what they say, thanks everyone for help0
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There's no reason at all why you should wait until May for any refund!
Your employer should have got you to fill in a P46 when you joined them, and the IR should then have issued a notice of coding, following which you would have had all your tax back (as you are not earning enough, cumulatively, to pay tax).
If the employer is still using a Week 1 code, you are not being taxed on a cumulative basis, which means that no coding notice has been issued.
Get your payroll department to sort out the P46 if they haven't already done so.0 -
MarkyMarkD wrote:There's no reason at all why you should wait until May for any refund!
Your employer should have got you to fill in a P46 when you joined them, and the IR should then have issued a notice of coding, following which you would have had all your tax back (as you are not earning enough, cumulatively, to pay tax).
If the employer is still using a Week 1 code, you are not being taxed on a cumulative basis, which means that no coding notice has been issued.
Get your payroll department to sort out the P46 if they haven't already done so.
I sent them a P46 ages ago which I had to get myself from the inland revenue since my employer never sent me one, despite me asking several times. I cannot rely on them having sent the P46 because they probably won't have0
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