Tax rebate SUCCESSES

EmDools

My boyfriend has been on tax code BR since he started his new job in Sept 2005. This meant he has been charged the full tax rate on his personal allowance for the last 5 years.

After querying it he has received two cheques totalling nearly £6200 and also a rebate of nearly £800 for this year.

The other bonus is his wage has gone up by £100 a month due to him overpaying.

Took them a month to sort out from him phoning to receiving the cheque.

Happy Christmas!

mk1boy

mk1boy wrote: »

...two days later, I got a cheque for £8143 - and that doesn't include this year! I should be getting a refund in this month's pay packet for my overpayments since April 2010.

I've now got this year's overpayments back in my December pay packet and it brings the total up to £9114
:beer:
And I will be paying about £110 per month less tax from now on! Well pleased!!!!!!

Reader1

When I read this article I was left in complete shock ! I’ve claimed tax returns every year since 2001 and everything has always been filed and processed correctly (whether I was due a refund or not), if there was an error I haven’t heard anything from the Inland Revenue...it would be a bit pointless me contacting them or sitting by the door waiting for the post. I know that online tax calculators (1stcontact, rapidrefunds, anglo pacific, tinso tax) can give a different result but I was told that they make a series of assumptions, and they don’t take into consideration numerous other factors that affect your tax position. I was actually disappointed to find out I’d underpaid, it was only a small amount..but it still disappointing ! This isn’t a little computing error, this is quite a big one, I don’t know if it’s embarrassing for HMRC to mix up tax codes and must be resulting in mass hysteria especially as its been put in the media (like bank charges).. to suddenly find out I’m owed thousands of pounds....that would be my lucky day !

Fizzi

Ending a year/ starting a new year is always a good excuse for a good overview of finances ( or lack of). I was made redundant earlier this year and duely informed the tax office of change of circs etc so didn't really take too much notice of my tax code until all the fuss on TV. Anyway, not expecting to find anyone at HMRC today, I found my paperwork and gave them a call. I found that they were still deducting for car and medical benefits I got from my previous employer despite the fact that I had told them all the changes. My tax code has changed from 346L up to 601L RESULT!!! Thank you MSE for prompting me to check. HAPPY NEW YEAR XXX

frazzledmum

This might be a stupid question - sorry! I have just used the tax code checker and it reckons I should have a slightly higher code - I claim childcare vouchers and as these are deducted at source, would that have an effect on my tax code?
Thank you if anyone can help.

wygde3

I don't understand something ... if I think about previous tax years, every year I have filled in the Self Assessment return on line. Each year this has resulted in over and under payments depending on the year based on teh tax code not necessarily accurately representing my income/benefits in kind/etc. Now if I have been doing this every year is it not the case that it does not matter what tax code was given at the time as the Self Assessment looks at your incomes and your allowances and so works out your tax? The tax code is just a mechanism for trying to make sure that you pay the right amount of tax each month through PAYE. (So this would be why it's worth getting it right in the current tax year as you would then pay the right tax and not have to claim it back through teh Self Assessment process).

So isn't the long and short that if you do your tax return every year, putting in the right income, the right benefits in kind, etc. then the tax calculation is done correctly and whatever the tax code was during that particular year is in fact irrelevant.

What am I missing?

jem16

wygde3 wrote: »

So isn't the long and short that if you do your tax return every year, putting in the right income, the right benefits in kind, etc. then the tax calculation is done correctly and whatever the tax code was during that particular year is in fact irrelevant.

Correct.

What am I missing?

The tax code being correct saves you overpaying or underpaying tax throughout the year. Also the majority of employed people with simple affairs do not do a tax return.

hmc

hello. i havnt worked since 2005 but after putting my code in it is saying im owed some money. dont really understand the deductions bit lol. do i just ring them? email? what will they need to know? thankyou for any help. a few hundred would help just now

jem16

hmc wrote: »

hello. i havnt worked since 2005 but after putting my code in it is saying im owed some money.

It's not saying anything of the sort. It's saying your tax code was different from the norm but it could be higher or lower.

dont really understand the deductions bit lol. do i just ring them? email? what will they need to know? thankyou for any help. a few hundred would help just now

You need to understand the reasons first.

What was your tax code then? What did your P2 coding notice say?

hmc

it was 481L in 2005. i got a new code sent 2007-2008(when ive not been working) 522L