Help Understanding taxes

Cpu2007

Hello everyone,
I've recently started a full time job, is the first permanent job I ever had as I was studying before.
Before this, I had some part-time jobs which lasted 5-6 months each but I never checked how much tax I was paying etc.
I've heard that it is possible that h&m revenue owns me taxes that I've overpaid and consequently I can claim back.

My question here is: how does tax deduction exactly work? I know in a year i get tax deducted ever month but I'm also allowed tax free income, so if during part-time jobs I pay taxes but my annual income was less than the income tax free allowance, should I get the tax back?

Back to my full time job, I've just started it around a month ago and tax has been deducted for the first month,when the tax year ends? will it be 12 months from the day I've started or there are specific dates and I have to check how much I've earned in between them.

Thank you

CLAPTON

firstly your current job

presumably you did no work since april 2012 and didnot claim any JSA

1. when you started the job did you fill in a P46?
if so which box did you tick

2. look at your payslip
what taxcode does it have
what were your gross earnings
how much the tax?

For the previous jobs:

you can earn a certain amount each year before tax is due
the system works via your taxcode; wrong taxcode then wrong tax

go back each tax year you worked and post up the details of your earnings and taxcode.

Cpu2007

Hi
Thank you, I don't remember filling up a p46, I know I've filled a contract which asked me bank details and other stuff like whether I need to pay student loan back etc.

If I don't have the p46, how can I get it or ask the information on my current p46?

ps:
on the payslip it says

tax code : 810L
ni rate : A

CLAPTON

what does your payslip say

Cpu2007

I belive you might have missed the last two lines in my last post as I've just added them, if that's not what you looking for then please tell me what exactly you mean.

thank you

CLAPTON

and the rest please

John_Pierpoint

The last day of the fiscal year is 05April and we all have to fit in with that date.

You will also find something called National Insurance on your pay slip, this is really a separate tax system based on what you get paid each week. This payment is what triggers your eventual state pension and some other social security payments.

Cpu2007

CLAPTON wrote: »

and the rest please

paye tax 198.00
nic 123.92
student loan 31

amything else ?:)

Cpu2007

John_Pierpoint wrote: »

The last day of the fiscal year is 05April and we all have to fit in with that date.

THank you, this is one of the things I wanted to understad
so basically a fiscal year finishes and starts around the 5th of april.
Does this mean that if I started work in january and by april I worked 3 months, and if in these three months I haven't earned the free tax allowance then(which I believe is around £8000 right?), am i allowed to have my tax returned(the one that I've paid during the 3 months of work)?

whitewing

http://www.moneysavingexpert.com/banking/tax-rates

John_Pierpoint

Yes but not your national insurance, if your PAYE code is working correctly the system in theory will leave you having paid the correct amount of tax in your last payslip before 6th of April. You will also get a P60. This is the official notification of your money earned and taxes deducted for the year.

As well as your personal allowance amount of Income Tax free pay, you may have made other tax free payments such as a contribution towards a pension scheme appearing on your P60.