📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Can I reclaim tax? Not sure based on these calculations

Options
startin2011
startin2011 Posts: 13 Forumite
edited 10 January 2011 at 8:35PM in Cutting tax
Hi All,

As a student years during my undergrad degree a couple of years ago, I had tax repayments made to me from HMRC as I hadn't earn't over the threshold but was taxed for some reason.

Anyway, now doing a postgrad degree and this got me thinking about tax for the tax year 2010 - 2011. I worked from 06 April - 28 August, and earned £11829.05 in total. I paid £1825.80 in tax. I then started full time studies again in Sept 2010, and will be studying until June 2011 so I won't be working again this tax year.

I am wondering if I paid more tax than I should have for this tax year essentially - I don't know if tax is an annual tax and thus based assumes you earn the same each month, or if it is monthly and thus the tax would be correct.

http://listentotaxman.com/index.php
Using the link above, it tells me I should pay £1070.80 tax based on my earnings for the year, rather than £1825.80 that I did pay. Because of my confusion about how tax is worked out, I don't know if this is actually right and I may be due a reclaim or if I am misunderstanding this.

I have the P50 form & my P45 here, just wondering if it is worth submitting it in when my thinking may be wrong about how tax works.

Many thanks!

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    indeed you would be liable to pay only 1,070 tax assuming you earn nothiong else this tax year as tax is an annual tax unlike NI which is charged based on monthly earnings
    and yes it is worth reclaiming the tax
    keep copies of everything
  • Thank you, that makes sense. I shall give the reclaim a go.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.2K Banking & Borrowing
  • 253.2K Reduce Debt & Boost Income
  • 453.7K Spending & Discounts
  • 244.1K Work, Benefits & Business
  • 599.2K Mortgages, Homes & Bills
  • 177K Life & Family
  • 257.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.