Tax Code BR?

chrisbur

jem16 wrote: »

Rough guide - assuming Week 16. You can check which week it is on your last payslip.

£230pw would see tax of £17.25 taken off normally. If week 16 that would be approximately £276. As you have paid £1005.70 it's roughly £729.70 overpaid.

You can check your own figures here if you like.

http://listentotaxman.com/

These figures do not appear to agree with each other. £230 a week would give £3680 after sixteen weeks and BR tax on £3680 would be £736 but the OP says they have paid £1005.70 tax so far on £4793 earnings.

On code 759L you would get just over £146 each week that tax was not due on and the tax taken on that would be about £29.20. If you multiply that by the number of weeks paid so far that will be the amount overpaid so far. So if sixteen weeks then abour £467.

jem16

chrisbur wrote: »

These figures do not appear to agree with each other. £230 a week would give £3680 after sixteen weeks and BR tax on £3680 would be £736 but the OP says they have paid £1005.70 tax so far on £4793 earnings.

I'm going to hazard a guess and say that the OP gave me his net weekly amount rather than gross.

On code 759L you would get just over £146 each week that tax was not due on and the tax taken on that would be about £29.20. If you multiply that by the number of weeks paid so far that will be the amount overpaid so far. So if sixteen weeks then abour £467.

Thanks for working that out.

I had also not taken into account the slightly higher allowance.

vivadave

Might have confused things here with the figures, we have recently moved and still in the process of box sorting, but later on today I came across my p60 for 2010-2011 and will post the exact figures once I finish work tonight.


Thanks again for all your helP and patience.

Dave

jem16

vivadave wrote: »

Might have confused things here with the figures, we have recently moved and still in the process of box sorting, but later on today I came across my p60 for 2010-2011 and will post the exact figures once I finish work tonight.

It's more the current tax year's figures that were confusing, not the 2010/11 figures.

If you want to post the figures from your last payslip - that's the one that needs clearing up.

Gross weekly pay
Tax deducted
NI deducted
Net weekly pay

vivadave

Right, home from work now....

Will start with this weeks payslip figures

Gross weekly pay...£340.58
Tax deducted........£68.20
NI deducted..........£24.19
Net weekly pay......£244.51


Next the exact figures from my 2010--2011 P60

Gross annual pay....£17337.85
Tax deducted........£3467.40

Final Tax Code BR

I double checked my payslips right back to April last year and everyone says BR.

Still cant believe i didn't notice it.


Thanks again guys.


Dave....

jem16

vivadave wrote: »

Right, home from work now....

Will start with this weeks payslip figures

Gross weekly pay...£340.58
Tax deducted........£68.20
NI deducted..........£24.19
Net weekly pay......£244.51

As chrisbur says, with a tax code of 759L you would get the first £146pw tax-free. You have been paying 20% tax on this so for each week you have paid about £29.20 more than you should. Multiply that by 16 weeks and overpayment is roughly £467.

Next the exact figures from my 2010--2011 P60

Gross annual pay....£17337.85
Tax deducted........£3467.40

Final Tax Code BR

Assuming code of 659L for 1010/11 you should have paid tax of £2147.77 last year. Overpayment therefore is £1319.63.

I double checked my payslips right back to April last year and everyone says BR.

Still cant believe i didn't notice it.

Always worth checking when you start a new job. At least it's now sorted and you can look forward to a nice rebate.

vivadave

Thanks again Jem. I will like I said post once things start moving and I will post the figures.


Dave.

vivadave

Quick update, received a letter this morning from IR confirming tax code 759L for 2011-2012.
First phone call was made on 15 July so they moving quick lol.


Dave....

jem16

vivadave wrote: »

Quick update, received a letter this morning from IR confirming tax code 759L for 2011-2012.

The tax code will have been sent electronically to your employer. Keep an eye on your next few payslips and make sure it is used. That will see an automatic rebate for this current tax year.

suso

vivadave wrote: »

This year so far £4793 tax paid to date £1005.70

Last year pay £14330.45 Tax paid £3217.17

Hope thats ok. And thanks.
Dave....:)

Before you start spending it.

If you have been on a BR code all year, yes you are going to be due a refund, however the figures don't match a BR code

Last year If you paid 3217 in tax then your taxable pay was £16085, unless your payroll department are truly pathetic and can't even work out a simple percentage.

Generally a BR code for 10/11 means that you will overpay 1295 in tax. (this is worked out by 6475 * 20% = 1295.) Because of your extra allowance your will get an additional 24.00 meaning a total refund of 1319 for last year.

This year you will have overpaid approx 29.00 per week this is worked out by taking your personal allowance of 7595 and dividing it by 52 which gives 146 per week tax free, you are paying tax on this each week when your shouldn't be, 146 * 20 % = 29.20 per week

so at week 16 you have overpaid approx 467.00

Still better than nothing,