How and When can i get my tax back??

azza87

H Savvy Sue.

I was digging through my cupbaord this morning and found my P45's and P60. I don't know how i missed it but i did get a p45 for my first job.

But i have a small problem about the P45 From my last job. I lost this job in november last year and have been on job seekers allowance since then. When i registered for this they took my P45 and will keep this until i find work, will this affect me receiving a rebate in any way?

Thank you for all you help so far and your kind words above

Thanks.

Savvy_Sue

azza87 wrote: »

H Savvy Sue.

I was digging through my cupbaord this morning and found my P45's and P60. I don't know how i missed it but i did get a p45 for my first job.

But i have a small problem about the P45 From my last job. I lost this job in november last year and have been on job seekers allowance since then. When i registered for this they took my P45 and will keep this until i find work, will this affect me receiving a rebate in any way?

Thank you for all you help so far and your kind words above

Thanks.

Don't know how tax rebates work with JSA, phone the tax office and ask. It is right that the Job Centre would have your P45, so don't worry about that. At least with a full set of forms it's usually fairly easy to work out whether you have paid too much tax.

pbright

Hi all,

Got intouch with the tax office, i have to send my P60 to them with a sentence or two explaining this is all i have earned this year and i have had no other job. With that they should be able to send me my tax refund. However using a tax calculator thing on the net just there i def. feel i might have over paid on NI. Today is the 5th of April, meaning the end of the tax year tonight right?!? So my earnings and deductions for this year are as follows...what do you think, am i owed NI and if so how can i get it???


Gross Taxable: £8,516.16
PAYE Tax: £846.55
NIC: £560.41


Can anyone help???????????????

tigtag02

Hi there

Your NI contributions are calclated diffently so a full year wont help us to work it out. They are not cumlative like tax but calculated at the time your wage was PAID and not EARNT (ie if you were not paid one week/month but double the next you would pay doublr NI) - Hope this is making sense!!

Bascially if you are paid weekly your NI should be calcluated as follows on each payslip:
11% on anything over £97
and monthly
11% on anything over £420

Hope this helps
tigtag

Madjock

Tax allowance and NI allowance aren't applied as one lump sum.

As has been pointed out, on weekly or monthly earnings the allowance before you are liable for NI contributions is £97 and £420 respectively. Any earnings over this amount should have NI deducted at 11% of the amount of earnings.

Tax allowance is £97 and £420 as well for weekly and monthly earnings.

The complicated bit is the 10% threshhold.

Once you've earnt over the allowance amount, the first £160 per month or £36 per week is taxed at 10%. Then the remainder is taxed at 22%.

If you earn £300 in a week -

The allowance before you start paying NI is £97, so you will pay NI on £203 of your earnings at a rate of 11%, so NI should be £22 approx.

The allowance before you start paying tax is £97, then the first £36 of your earnings over this £97 is taxed at a rate of 10%, so that's £3.60 in tax. the remainder of your income, £167 is taxed at 22%, which is approx £37, so the total amount of tax you will pay is approx £41.

So, your NI is £22, and your tax is £41.

You should come out with £236 net pay.

To claim a tax refund at the end of the year, the best thing to do is get your P60 and send it to the tax office where your tax record is held with an accompanying letter stating you would like a tax refund. You can backdate claims for refunds for 6 years (IIRC).

Just as a by the way, I worked out sometime ago that the optimum number of hours to work per week, to maximise the actual hourly rate you get is 30. Once you go over 30 hours the tax and NI bring your net hourly rate down, so anyone who does 30 hours a week, you are getting the maximum net hourly pay. YAY!

Madjock

pbright wrote: »

Hi all,

Got intouch with the tax office, i have to send my P60 to them with a sentence or two explaining this is all i have earned this year and i have had no other job. With that they should be able to send me my tax refund. However using a tax calculator thing on the net just there i def. feel i might have over paid on NI. Today is the 5th of April, meaning the end of the tax year tonight right?!? So my earnings and deductions for this year are as follows...what do you think, am i owed NI and if so how can i get it???


Gross Taxable: £8,516.16
PAYE Tax: £846.55
NIC: £560.41


Can anyone help???????????????

it seems to me you have overpaid your tax in the region of £300, and your NI in the region of £175. Don't know why that NI is so messed up, unless you have had some super high earnings some weeks- over £650.

pbright

Yes thats how much NI i paid for the year and yes i did have a week or two i made over £500. Is their away i can get some of the NI back. I have paid more NI than a friend who made more in the year....what can i do about my NI. My work gives me my P60 soon, all i have to do is pop that off to the tax office and they will issue my a reimbursement...but what about my NI?????????

Savvy_Sue

pbright wrote: »

Yes thats how much NI i paid for the year and yes i did have a week or two i made over £500. Is their away i can get some of the NI back. I have paid more NI than a friend who made more in the year....what can i do about my NI. My work gives me my P60 soon, all i have to do is pop that off to the tax office and they will issue my a reimbursement...but what about my NI?????????

Unless you can demonstrate that you have actually overpaid your NI, there's no way at all you can get it back. And if there were some weeks when you earned a lot more than usual, you will have paid a lot more NI in those weeks. Sorry, but that's the way it goes.

I have NEVER understood why we retain, effectively, two separate tax regimes deducted from income, one of which is calculated on your annual earnings, and the other which isn't ...

pbright

So thats me...because of the waty i work(some weeks hard, some weeks not) I have been charged more NI than friends who have earned consectively the same amount although altogether more than me in the year.....its not fair!!!! :-(

Savvy_Sue

pbright wrote: »

So thats me...because of the waty i work(some weeks hard, some weeks not) I have been charged more NI than friends who have earned consectively the same amount although altogether more than me in the year.....its not fair!!!! :-(

See my comment above!