Tax code change...

chrisbur

castortroy31 wrote: »

hi there,

am sorry will get the info asap. you need the last payslip pre change in the tax code and the last payslip with the new tax code?

regards,

Cas

It is the taxable gross to date and the tax paid to date from your last payslip with the 810L tax code that is needed.
While you are checking that also have a look if there is a previous gross and previous tax figure, and also advise the same details for the week before the last as this is probably where we will be heading next.

I know this sounds complicated and sometimes payslips are headed differently so is there any chance you could scan these last two payslips? Failing that could you list everything on the last two payslips, show heading followed by figures and I can pick out the bits needed.

dori2o

Did you start work part way through the last tax year?

chrisbur

Just a thought; I notice that the tax figure you quote for last year works out as about right for 20% tax but you say "previously i was paid this for 45 weeks approximately" which at £1088 would have taken you into the 40% band. Is it possible that you mis-typed this or mis-counted. On your last payslip for last year was your taxable gross to date above or below £42475.00

castortroy31

chrisbur wrote: »

Just a thought; I notice that the tax figure you quote for last year works out as about right for 20% tax but you say "previously i was paid this for 45 weeks approximately" which at £1088 would have taken you into the 40% band. Is it possible that you mis-typed this or mis-counted. On your last payslip for last year was your taxable gross to date above or below £42475.00

I am not sure on the exact amount as still getting that last payslip. they requested it for me today.

i started working under paye in may last year and they changed the tax code in april of this year so in theory i would have earnt less than 40k i think.

thanks for the help so far guys.

chrisbur

castortroy31 wrote: »

I am not sure on the exact amount as still getting that last payslip. they requested it for me today.

i started working under paye in may last year and they changed the tax code in april of this year so in theory i would have earnt less than 40k i think.

thanks for the help so far guys.

Assuming that your earnings for last year were "less than 40k" then that is the answer. At this level of earnings you would not pay any 40% tax so you had your tax free allowance and your earnings above that were taxed at 20%. This year you are on course for earnings of £56576.00 if earnings continue at your current level so you will be paying 40% tax on just over £15000.00 of your earnings. Your increase in tax code has caused a reduction in tax of about £268.00 but your far higher earnings for this year have caused an increase in tax of about £3000.00 (difference between 20% and 40% on £15000.00) This gives roughly just over £52.00 extra tax per week on your £1088.00 wages than would have been due last year.

agrinnall

If you started in May 2013 then 45 working weeks is likely to be about the right number in the tax year. If you worked them all and your taxable pay was always £1088 then you would have gone into 40% tax last year. However, reading between the lines of what you've said I suspect that you took some weeks as holiday and you were paid at a lower rate for those weeks, so that may have kept you just below the threshold.

By the way, you shouldn't need to wait for the pay slip from last year, the information will be on your P60 which you will have received by now and which you MUST keep (I'm saying this as paperwork retention doesn't seem to be a strong point for you).

castortroy31

agrinnall wrote: »

If you started in May 2013 then 45 working weeks is likely to be about the right number in the tax year. If you worked them all and your taxable pay was always £1088 then you would have gone into 40% tax last year. However, reading between the lines of what you've said I suspect that you took some weeks as holiday and you were paid at a lower rate for those weeks, so that may have kept you just below the threshold.

By the way, you shouldn't need to wait for the pay slip from last year, the information will be on your P60 which you will have received by now and which you MUST keep (I'm saying this as paperwork retention doesn't seem to be a strong point for you).

Lol thanks for the useful tips, yes paperwork isnt my strong point. I have just setup online storage so when i get important docs, i scan them and keep them online.

So my P60 has come through and the break down is as follows:

tax year to 5th April 2013

paid to date in employment 43719.87

tax deducted 7175.40

nic table letter A

Earnings at the
Lower Earnings
Limit (LEL)
(where earnings
are equal to or
exceed the LEL)

3959

Earnings above
the LEL, up to
and including the
Primary
Threshold (PT)

1443

Earnings above the
PT, up to and
including the Upper
Accrual Point (UAP)

22971

Earnings above the
UAP, up to and
including the Upper
Earnings Limit (UEL)

1692

Employee's
contributions due on all
earnings above the PT

3233

student loan

2007


does this help at all?

chrisbur

castortroy31 wrote: »

Lol thanks for the useful tips, yes paperwork isnt my strong point. I have just setup online storage so when i get important docs, i scan them and keep them online.

So my P60 has come through and the break down is as follows:

tax year to 5th April 2013

paid to date in employment 43719.87

tax deducted 7175.40

nic table letter A

Earnings at the
Lower Earnings
Limit (LEL)
(where earnings
are equal to or
exceed the LEL)

3959

Earnings above
the LEL, up to
and including the
Primary
Threshold (PT)

1443

Earnings above the
PT, up to and
including the Upper
Accrual Point (UAP)

22971

Earnings above the
UAP, up to and
including the Upper
Earnings Limit (UEL)

1692

Employee's
contributions due on all
earnings above the PT

3233

student loan

2007


does this help at all?

The pay and tax figures on this P60 do not seem to agree.
Can you double check them and if they are correct check to see if there is a box that mention week 53 if so does this have an X in it? Also check your payslips does one of these have week 53 as the week number?

Dazed_and_confused

Tax seems fairly consistent with a cumulative code and a week 53 payment.

castortroy31

hi there,

cant see any x mark checked on the form.

so if the tax is consistent then for the year after 2013-2014, then surely my tax is reset so to speak and i get the full allowance again?

Regards,

Cas