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Due a tax rebate??
wes321
Posts: 12 Forumite
in Cutting tax
Hi, This year so far I have earned
TotGross YTD 49,238.40 and paid
Tax paid YTD 10,420.43
Am I due a rebate?:o
TotGross YTD 49,238.40 and paid
Tax paid YTD 10,420.43
Am I due a rebate?:o
0
Comments
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Also my tax code is 810L0
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That looks the correct tax to me assuming that you are on month 11.0
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and assuming your tax code is correct0
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I put the figures into the HMRC calculator and it says I am due £820..... How do you work it out?0
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You will be due a rebate if you don't earn anything else this tax year.0
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Ive got 1 more months salery to go.....oh well0
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I put the figures into the HMRC calculator and it says I am due £820..... How do you work it out?
That's assuming one whole tax year. To work out yours you need to take 11/12ths of the personal allowance and 11/12ths of the basic rate band off your total so far.
Then charge that 11/12ths of £34,370 at 20% and what's left over at 40%.
Basically with a cumulative tax code (ie no mention of Mth1/Wk1) your tax will be correct assuming no other income and that you work a full tax year.0
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