Confused with how much i'll get taxed

broke_guy

Hi

Im a bit confused as to how much I will get taxed. I usually get £447 a month but this month I have done some overtime and will be getting £997 (roughly) and my tax code is 810L. I was wondering if anyone can help me by telling how much i will get taxed?

Thank You

Caz3121

What is your tax code on your payslip?

Pont

According to http://www.listentotaxman.com/index.php you will pay £64.25 tax and £43.72 NI. However, on a usually wage of £447 a month you would be able to claim this back at the end of the year as you would still be under the taxation threshold overall.

Pont

Caz3121 wrote: »

What is your tax code on your payslip?

op stated 810L

broke_guy

Tax Code is 810L and Pont thank you so very much for your response. Much appreciated.

molerat

I make it £43.56 NI and, if the tax code is cumulative and you have not earned over £447 each month, no tax as you still have some unused allowance from previous months. Without knowing your total earnings to date and tax paid it is difficult to be 100% though. £447pm is an awkward position to be in, another £17 per month and full NI would be credited at no cost to you

chrisbur

Assuming that your tax code is being applied on a cumulative basis, and assuming that your monthly earnings so far this tax year have been £447 every month then you will pay no tax on £997 though you will pay some NI about £43.50 aprox assuming that you pay at the A rate for NI. If however your tax code is being applied on a month1 basis and assuming that your monthly earnings so far this tax year have been £447 every month then you will pay £64.20 aprox but will get that back when your tax code is changed to a cumulative basis or after the tax year end if it is not sorted by then.

broke_guy

@molerat my pay has been £420 for about a year and abit and then in september it went up to £447 a month, I dont pay tax on those earnings. Last month i did overtime and got paid around £600. Does that make any difference?

molerat

Again assuming cumulative tax your wages are still shy of paying tax by approx £1500 so far this year. (pay £4590, allowance to M9 £6079)

broke_guy

Thanks for all your help