Overpaid Tax last Tax Year?

chris1344

Hi,

I currently have 2 jobs, as one is a paid years' placement as part of my University course. For this first couple of months of my placement, I was on tax code BR and my 7 hours a week job was on 647L. After realising this I got them switched around.

However, does this mean I could have paid too much tax when my higher-earning job was been taxed at the higher rate? I have recieved one of my P60's but I am waiting for the other.

Basically, is there a way in which I can check the amount I should have been taxed compared to what I have been? Is that too complicated to work out?
I understand that I can probably ring HMRC, but wanted to check if I was owed anything first.

Thanks for your help!
Chris

fengirl_2

Impossible to answer this without seeing the numbers, but you can work it out yourself when you get the other P60 (or using your final payslip for the 2nd job).
You add the two gross pay figures together, deduct 6475 and multiply the difference by 20%. That gives you the tax due. Add the two amounts of tax together and deduct the answer from the tax due calculation. This will show whether there is an overpayment or not. If there is an underpayment of £100 or less, it will be ignored.

suso

fengirl wrote: »

Impossible to answer this without seeing the numbers, but you can work it out yourself when you get the other P60 (or using your final payslip for the 2nd job).
You add the two gross pay figures together, deduct 6475 and multiply the difference by 20%. That gives you the tax due. Add the two amounts of tax together and deduct the answer from the tax due calculation. This will show whether there is an overpayment or not. If there is an underpayment of £100 or less, it will be ignored.

Where do you get the figure of £100.00 from?

I was under the impression that HMRC would consider a year balanced if any underpayment was less than £50.00 or any overpayment was less than £10.00

Sucker_for_sweeties

fengirl wrote: »

Impossible to answer this without seeing the numbers, but you can work it out yourself when you get the other P60 (or using your final payslip for the 2nd job).
You add the two gross pay figures together, deduct 6475 and multiply the difference by 20%. That gives you the tax due. Add the two amounts of tax together and deduct the answer from the tax due calculation. This will show whether there is an overpayment or not. If there is an underpayment of £100 or less, it will be ignored.

Gosh ...I never realised that, I often have peeps on my payrolls that have more than one job....basically unless they get their tax codes sorted out within tax year then they will lose any overpayment of income tax deducted if it's £99 or less...?

suso

Sucker_for_sweeties wrote: »

Gosh ...I never realised that, I often have peeps on my payrolls that have more than one job....basically unless they get their tax codes sorted out within tax year then they will lose any overpayment of income tax deducted if it's £99 or less...?

read it carefully, Fengirl says underpayment of under £100.00 (although I think the figure is £50.00)

If the taxpayer owes the government less than 50.00 in tax, it is written off.
If the government owes the taxpayer less than £10.00 nothing happens (unless the taxpayer asks for it)

Different rules apply in relation to P11D's

HMRC will look at tax affairs for 6 years (although this is being reduced to 4 years gradually over the next couple of years) So its not lost to claim.

dizzyblonde82

suso wrote: »

If the taxpayer owes the government less than 50.00 in tax, it is written off.

I recently got my tax coding notice and they have reduced my personal allowance to enable them to reclaim £9.03 which is the underpayment of tax for 09/10

dori2o

dizzyblonde82 wrote: »

I recently got my tax coding notice and they have reduced my personal allowance to enable them to reclaim £9.03 which is the underpayment of tax for 09/10

Is the underpayment from Self Assessment? If so then unfortunately the £50 'limit' does not apply.

Could it be a Potential underpayment brought forward from the 09/10 tax year due to a coding change? If so, then again, this will be collected as you have been informed of it.

The same would happen with PAYE assessments.

If you phone or write in and ask for an assessment, if the amount underpaid is less than £50 then HMRC will tell you over the phone or write back simply stating no refund due and not issue an assessment. If you then phone or write in demanding a copy of the assessment, they will issue one without question, but, any underpayment no matter how small, is then deemed payable and will be collected by reducing your tax code in the next available year.

rainbowj63

my tax code is BR i have been working since september last year but was unemployed from March until September should i be on this tax code and should i have paid full tax as i was unemployed for six months of last year i am desperate to know as i am struggling with debts that ramped up last year whilst out of work

jem16

rainbowj63 wrote: »

my tax code is BR i have been working since september last year but was unemployed from March until September should i be on this tax code and should i have paid full tax as i was unemployed for six months of last year i am desperate to know as i am struggling with debts that ramped up last year whilst out of work

You should not be on code BR unless you have another job.

Did you complete a P46 or hand in your P45 when you started this job? If you have done neither complete form P46 and hand it to your employer.

You may well be due a rebate from last tax year but we would need to know more to be sure.

ioscorpio

http://listentotaxman.com/