How much tax have I paid too much?

chivers1977

Pls can you advise me:

My tax code should be 503L. In error due to doing some mystery shopping, they have me as 203L.

My income is c £23k pa. I am contracted out, pay £50 towards SAYE and 242.25 comes out pre tax for child care vouchers, £10 GAYE and the extra pennies also go to charity.

This month I got a £4k bonus. After deductions due to the tax code I am only left with 3691.00 in total. My "normal" take home after deductions is around £1270 so I think that I am due back around £400 tax, is that right?

Also the tax code has been incorrect since my Nov pay packet so should be due back a refund since then I believe. Any idea on the total amount I should be due back.

Many thanks in advance

Vicky

ctm_2

What makes you think that 230L is incorrect? What deductions were on the coding notice your eceived when it changed? What is the Mystery Shopping you refer to? Does it have tax deducted at source from the earnings (and if so how much, and what code is used) or is it paid without deduction of tax?

Anyway... assuming that you are paid on the last day of each month, and this month is your payment at the end of Feb then this is you 11th pay packet this tax year, and sis worked out using month 11 figures.

Assuming therefore that your total taxable pay to date (should be on your payslip) is around £18293 plus the 4K bonus = £22293 then on 503L your total tax paid should be in the region of £2658. On 203L it should be in the region of £3318.

However, if your code was decreased then it is likely that it is being operated on a wee/month1 basis, meaning my calculation for 203L will not be correct and won't match the amount of tax you have actually paid (my calculation will show more than you have actually paid).

If 203L is wrong, then yes, you may be due a refund. But we need to know why you think it is wrong. have you spoken to HMRC and told them you think it is wrong and asked for it to be corrected?

chivers1977

Thank you for your swift answer.

HMRC have confirmed that it is wrong and they will be correcting it in time for next pay day - 23rd March. 203L was based on me earning £32,000 instead of £23,000 and having mytery shopping earnings of £10,000. I wish. I have made a total of £37 paid gross so I owe £8ish on that. I am on 203L Month 1.

I am off sick so don't have todays payslip but month 10 pay slip says 15283.96 pay and 2388.44 tax, 1035.45 Ni. Pay will look less due to the childcare vouchers being a separate entry for £210 pm.

Hoddie_2

You've paid tax on 2,750 that you shouldn't have done. Assuming your salary to date is less than approx. £35,000, you'd be due a repayment in the region of 2,750 @ 22% = £605.

ctm_2

And if your code is corrected and the code operated against your March pay, then you should end the year having paid the correct amount, and not having to claim a refund seperately.

chivers1977

Thank you very much, that will come in handy to compare actuals!!