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Tax for monthly wage
NorhternMonkey
Posts: 206 Forumite
in Cutting tax
Morning all,
Just had my payslip for last month and noticed that I haven't payer any tax.
What do I need to do to sort this out, as I don't want a big tax bill in a few months.
Cheers
Just had my payslip for last month and noticed that I haven't payer any tax.
What do I need to do to sort this out, as I don't want a big tax bill in a few months.
Cheers
0
Comments
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How much did you earn? How much have you earned year-to-date? Both these are necessary to give you an answer! Also, what is your tax code (shown on payslip). with that info someone can tell you if its correct!:beer:0
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As sarahk says, more info required but my guess is you have either earned a lot less this month than in previous months or had a tax code change or started a new job having not worked for a while.
It is very, very unlikely to be wrong. The PAYE system self corrects for cumulative tax every pay period.0 -
Hi "Norhtern Monkey".
If you are on the (standard) 747L tax code for 2011-12, you can earn (approx) £623.00 per month before paying tax. (7479/12 per month)
So by the end of October, you can have earnt 7 x 623 = £4361 before paying tax.
Does this help?0
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