Being taxed on code Week 1/Month 1

dre101

Hi there,

Previously I was working for an agency from 01/06/10 - 11/03/11 on my tax code 647L which had W1 beside it. By speaking to my new employer they said I have been taxed incorrectly while working through the agency, is this right? Also would I be due a refund? And would I need to wait until I receive my P60's for the 4 jobs I have had during the tax year 2010/11?

Any info would be much appreciated

kind regards

Oli

liney

You wont recieve P60's for all the jobs you have done, only the one you are working at during the end of the tax year.

Week 1 means that you get a bog standard tax allowance ie 647 /52, but doesn't take into consideration previous earnings in the year, so if you have been working consistantly it's likely to be pretty accurate, but if you have had a period of unemployment than you may have paid too much tax.

You need to write to the tax office who will do a calculation for the entire year, and include your P60 when you receive it in the next few weeks.http://www.hmrc.gov.uk/incometax/overpaid-thro-job.htm

What tax code had your new employer placed you on? If you are now on cumulative code, ie normal, you should be able to imput the cumulative figures into tax calculator and see if you have paid too much http://listentotaxman.com/