Simple (I think) income tax/NI question

Kesuke

Hey all, wonder if you can help me figure this out...

I started work at the begining of August this year - before that I was a pennyless student so paid no tax.

My pay is £32.5K (or £2700 gross per month). I'm being paid at the moment on the standard 944L tax code.

...

I'm paying about £345 a month in income tax + £250 NI and £120 Student loan repayments (and a 7% pension contribution that comes out before tax is calculated).... BUT - it seems to me that these deducations are based on 12 months earnings... but by the end of this tax year in April 2014 I will have only been working (and paying tax) for 9 months, so my actual annual take home will be closer to £24,300.

Can you help me figure out;

1) If I be entitled to a rebate and if so how much?
2) What is the best way to go about getting it (i.e. is it automatically calculated after next April or do I have to ask for it?)
3) When might I reasonably be able to get it?
4) Would this also extent to National Insurance aswell? (I'm pretty sure it won't?)

Thanks! I'm new to earning a proper living-wage salary so I'm fairly naive to how everything is calcualted.

chrisbur

From your last payslip what is the month number, the total taxable gross to date and the total tax paid to date?

getmore4less

what was on the p45/6.

ni is based on actual pay in the period.

tax should be reduced till you catch up.
(aug probably zero)

roughly £3k tax for the year over 6-7 months <£400 it's in the right ballpark

jem16

Kesuke wrote: »

I'm being paid at the moment on the standard 944L tax code.

Was there a MTH1 suffix after the 944L code?

before that I was a pennyless student so paid no tax.

Did you have a job at all from April to August? Or JSA?

Kesuke

I haven't picked up my September pay slip yet, so I only have august; But the gross pay to date on Augusts slip was £2563 of which £2430 was taxable after pension contribitons came out. I then paid £328 tax, £200 NI and £107 student loan on that. So net pay to date was £1794. It doesn't have a month number but says "Tax period = 5"?

That months pay was slightly lower (as I started work on the 7th).

Kesuke

jem16 wrote: »

Was there a MTH1 suffix after the 944L code?

No, the suffix is NONCU

jem16 wrote: »

Did you have a job at all from April to August? Or JSA?

No none, I was studying. I had no taxable income before August 2013 (for a period of about 4 years).

jem16

Kesuke wrote: »

No, the suffix is NONCU

That's the same as Mth1 suffix.

Basically you are on a non-cumulative tax code which only looks at each month in isolation. You need to be on a cumulative tax code.

Did you complete a P46 ( or its online equivalent ) when you started?

Kesuke

jem16 wrote: »

Did you complete a P46 ( or its online equivalent ) when you started?

No, whats the best thing to do about that?

chrisbur

Kesuke wrote: »

I haven't picked up my September pay slip yet, so I only have august; But the gross pay to date on Augusts slip was £2563 of which £2430 was taxable after pension contribitons came out. I then paid £328 tax, £200 NI and £107 student loan on that. So net pay to date was £1794. It doesn't have a month number but says "Tax period = 5"?

That months pay was slightly lower (as I started work on the 7th).

You were on emergency tax for your August payment and it was applied on a non-cumulative basis. When you started did you advise your employer that you had no taxable income so far this year? They should have asked about this and as you had none they should have applied the emergency tax code on a cumulative basis.

jem16

Kesuke wrote: »

No, whats the best thing to do about that?

As chrisbur says your employer should have asked you questions when you started.

Fill in the Starter Checklist form and give it to your employer. This replaced the P46.

http://www.hmrc.gov.uk/forms/starterchecklist.pdf

Kesuke

jem16 wrote: »

http://www.hmrc.gov.uk/forms/starterchecklist.pdf

Ah, so I filled out what appears to have been an older version of this form on paper. It was a single side of A4 with the HRMC logo at the top, it asked about 5 basic questions - NI number, whether I had a student loan etc. At any rate, it seems like my employer didn't process it properly.

So putting all this to one side;
- Back to my original questions, can anyone figure out what I should be looking to get back in tax?
- What happens to the two months where I've already overpaid?