How to get a tax rebate inc Tax Code Checker

wildthing01

asc99c wrote: »

They've been trying to get rid of any advantage of company cars for a good long time now.

Certainly, it's expensive to buy new cars every 3 years - enough that I don't know anyone who buys their own car that actually does this out of their own pocket. If you've got a company car, they do hammer you with taxes on it, and it can be a pain since you often can't just choose to run a cheap but reliable 5-10 year old car.

I work with people who have relinquished their company cars to save money.

so it is technically a 'company car' then, even though i pay for it? i thought company cars were considered to be part of someone's salary package, ie they pay nothing towards it, it's just a 'perk'?

i would love to get rid, but i am an essential car user, ie need car to do my job (it's in my contract) and we have 2 small children who need ferrying to different places. we did manage on one car for 6 mths while i was waiting for the lease car, but i couldn't do my job properly and the children missed out on a lot of their usual activities. i would love to be able to walk to work, but no dice i'm afraid...

hca111

I have never had any benefits like company cars etc, I have been promoted a couple of times over the years last time was about a year ago. When the children were young I had two jobs but that was 8 years ago. I assumed I'd just be on the standard 647L code like everyone else. Sorry to sound a bit thick I clearly haven't been paying enough attention to this. Any advice very much appreciated.

Dont want to end up owing them tho! Should I be ringing them?

jem16

hca111 wrote: »

Dont want to end up owing them tho! Should I be ringing them?

You are paying more tax than normal just now so it's unlikely you will owe them anything.

However if you can think of no reason for you to be on a lower tax code I would phone HMRC and ask why. It is possible it is wrong but if it's correct at least you will know why.

Have you not received a coding notice? Any code which is not the standard tax code is usually accompanied by a tax coding notice to explain it.

hca111

jem16 wrote: »

You are paying more tax than normal just now so it's unlikely you will owe them anything.

However if you can think of no reason for you to be on a lower tax code I would phone HMRC and ask why. It is possible it is wrong but if it's correct at least you will know why.

Have you not received a coding notice? Any code which is not the standard tax code is usually accompanied by a tax coding notice to explain it.

Can't find any coding notice to be honest I can't remember ever receiving anything I have all payslips for the last couple of years, I have also found last 2 P60 plus one that was for 2006 then my salary was 17,621 and the tax code was then 281L don't know if that was the standard tax code back then. I;ll put that year into the checker. Many Thanks for you response I am a little confused I'd have thought I was just an average taxpayer!Just put the 2006 in that says over 2k out now I really am confused!

asc99c

wildthing01 wrote: »

so it is technically a 'company car' then, even though i pay for it? i thought company cars were considered to be part of someone's salary package, ie they pay nothing towards it, it's just a 'perk'?

As I understand it now, everyone pays for their company car to some extent. I think the minimum is that they calculate the value as a benefit in kind, and you have to pay the tax on it as though you were paid a higher salary.

A friend who is a field engineer has just got a new company car, with full maintenance and fuel paid for. That's a benefit in kind worth many thousands a year, and as a result, he has to pay well over £100/month extra tax - more than I actually spend on my car!

If you've not got private fuel allowance, it cuts down the benefit in kind calculation, and the same again if you're paying towards the lease. But if you couldn't maintain the same car privately for less money, it's a benefit being paid to you even if you're contributing, and you'll get taxed on it.

Mikeyorks

mcfi wrote: »

I've just read that HMRC are writing off any underpayments below £300.

Where did you read that? It would appear to be news HMRC haven't caught up with :-

http://www.hmrc.gov.uk/p800/paye-tax-calcs.htm

jem16

hca111 wrote: »

I was just an average taxpayer!Just put the 2006 in that says over 2k out now I really am confused!

Best to phone HMRC tomorrow and find out why your tax code is lower.

Perhaps you can let us know if it's correct or not?

hca111

I will ring in the morning and post the outcome tomorrow night. Thanks for your help.

BIGFISH

Never received any coding notice and have been with the same company for 20+ years with no extra benefits, no company car and no medical private medical care.
I have looked back to 2002-03 and I had the same tax code then.

jem16

BIGFISH wrote: »

Never received any coding notice and have been with the same company for 20+ years with no extra benefits, no company car and no medical private medical care.
I have looked back to 2002-03 and I had the same tax code then.

Best phone and find out then as if it's wrong you are underpaying tax.