Due a tax rebate??

wes321

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

wes321

Also my tax code is 810L

chrisbur

That looks the correct tax to me assuming that you are on month 11.

Dazed_and_confused

and assuming your tax code is correct

wes321

I put the figures into the HMRC calculator and it says I am due £820..... How do you work it out?

dtaylor84

You will be due a rebate if you don't earn anything else this tax year.

wes321

Ive got 1 more months salery to go.....oh well

jem16

wes321 wrote: »

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.