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Overpaid at work effect on Tax credits & P60
subway98
Posts: 28 Forumite
This year i got overpaid at work due to SMP being wiped off my records with HR. They repaid all my SMP totalling £1500, but taxed me on this, so it ended up being £1000 in total.
I now have to repay all this again to work, at £30 per month before tax & deductions. So im paying £20.00 after deductions towards my overpayment.
The worrying thing is though, I have been recently told that this overpaymnet will show on my P60 this year, minus the small amount i have repaid as an income. Is this correct?
It's going to show that i have earnt this money 2010/2011 tax year. But come next tax year it will all be normal basic wage, But i will be repaying the overpaymnet still, therfore going home will less each month and my Tax credits for 2011/2012 will be less.Therfore living on less
Is this right, that even if its an official error- it will show on my P60? can i get it removed in anyway?
I now have to repay all this again to work, at £30 per month before tax & deductions. So im paying £20.00 after deductions towards my overpayment.
The worrying thing is though, I have been recently told that this overpaymnet will show on my P60 this year, minus the small amount i have repaid as an income. Is this correct?
It's going to show that i have earnt this money 2010/2011 tax year. But come next tax year it will all be normal basic wage, But i will be repaying the overpaymnet still, therfore going home will less each month and my Tax credits for 2011/2012 will be less.Therfore living on less
Is this right, that even if its an official error- it will show on my P60? can i get it removed in anyway?
0
Comments
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I doubt it as a P60 has to tell it as it is,why was it official error?didnt you notice the overpayments at the time?0
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sorry for the time dely in replying
It was official as work have owned up to it. We have agreed to repay the overpayment at a set rate per month. £30 gross,
I have since been onto work again, only to be told that each year the amount of outstanding overpayment will be added or shown on my gross figure on my p60- surely that cant be right. considering im going to most probably end up with an overpyt of tax credits because of this figure gross figure
so for example, i get a basic of £16k, plus by end of next tax year- i should owe about £1k, so work have said the figure on my p60 will be £17k, even though i only get the £16k next year.
then the year after, will be basic £16k plus whatever i still owe on the overpayment. This will carry on being shown on my p60 until cleared. Surely this cannot be right?0
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