We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
Tax or not??

faff
Posts: 30 Forumite
Hi
I am on a state pension , and i have just finished a job where i was helping them out in the middle of the tourist season
What i would like to know is . should i have paid tax... i have been retired for 5 yrs
I earned
in total £2272 gross
I paid £444 in tax
I also do not understand my tax code......OTM1
Can anyone please help in this ??
thank you
kathy
I am on a state pension , and i have just finished a job where i was helping them out in the middle of the tourist season
What i would like to know is . should i have paid tax... i have been retired for 5 yrs
I earned
in total £2272 gross
I paid £444 in tax
I also do not understand my tax code......OTM1
Can anyone please help in this ??
thank you
kathy
0
Comments
-
http://www.payroll-help.com/faq/what-does-my-tax-code-mean/
Is any of your pension taxed? If your pension income exceeds the individual tax allowance then any additional income will be taxed in full.
0TM1 means you were taxed at your highest rate - in this case 20%. (PS - It's a Zero not an Oh).0 -
By default you should pay 20% tax above £9490 annually.
(Assuming your not over 75, have a company car or BUPA etc etc)0 -
You may need to complete a tax return. If have paid too much, the excess will be refundedThe greater danger, for most of us, lies not in setting our aim too high and falling short; but in setting our aim too low and achieving our mark0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards