Tax Deduction Question

elskie1987

Hi,

I have a question about my income tax.
From last months pay I worked out that I should be entitled to a tax rebate at the end of the tax year

This was my pay as of 17/02/2012:

I'm on Tax code 747L

Gross pay £2033.31

Tax Deduction £291.60
NI £177.28
Student Loan £79.00

Total Pay to date - £22037.01
Total Tax to date - £3026.40

I worked out using the "listen to taxman" calculator that I should have only paid £2,912.40 meaning I have over paid by £114

However my most recent pay dated 16/03/2012 works out like this:

Gross Pay £2498.54

Tax - £384.60
NI - £233.10
Student Loan - £121.00

Total Pay to date - £24535.55
Total Tax to date - £3411.00

Once again using the tax calculator, I seem to have paid the correct amount of that for this year, but what happened to the £114? I seem to have paid the correct amount of tax for the 4 weeks?

Should there be a rebate in my next pay or has something gone wrong?

Mikeyorks

elskie1987 wrote: »

Should there be a rebate in my next pay or has something gone wrong?

There is no 'next pay' .... as that for 16/3 was the last in the tax year?

The only thing 'wrong' is that you used a calculator that only works for whole years. You can only use it for part years if you manipulate the personal allowance yourself.

If you do it again now your pay is at the tax year end - you will find you have paid the correct amount of tax for the whole year.