The 'I'm less money-idiot more money-savvy' Diary

Cwtchie

Doing so good! Well done on your assignments

judi24

Thanks Cwtchie -its a relief to get them out of the way! (for now at least!)


Well today has been a bit mixed MSE wise - NSD:T which is great so 2 so far this month - I think I will aim for 14 for the month to start ( but hopefully a few more!) I am not counting DS's bus fare or Cadet subs as they are budgeted for and if I included bus fares - I would never have any!!! (I take this money out on a Sunday bit can't give him it all at once or he would loose it or spend it on donuts!!!!:mad:)


I have also got an internet access problem (which appears to be sorted after spending 20 mins on the phone to a kind chap from V media) he very kindly informed me that there was a local connection problem too that might not be resolved until the 11th - when I said that was a rather long time he offered to refund my months bill - yes please!!!


On a not so good note - I got DD3's Cub subs and capitation bill today - £48 - but I don't mind as she loves it and its good for her - it is budgeted for as I knew it was coming.


Now here comes the worst bit! I got a tax bill - a P800 from 2011/12 and 2013/14 saying I have underpaid my tax by £526 and they will kindly adjust my tax code to pay it off!!! How can I have underpaid tax? I don't do a tax return - they take it from my wages and always have done!!!! If they have not calculated it correctly surely that's there problem and not mine!


I need to investigate as I am not happy and do not understand how this can happen! :mad:

ampersand

By all accounts there are a lot of these 'chancer'-style bills going out.
I just googled something like:
http://www.rossmartin.co.uk/employers/essential-know-how/454-the-advisers-guide-to-the-paye-underpayment-scandal
-from which, in total ignorance, I extract this:
What to do if HMRC has written to you

• Don't panic, you have not been sent a demand it is a calculation.
• If you have underpaid tax, it will generally be collected next year via your tax code.
• Read through the figures on the calculations and check to ensure that the basic data is correct
  • Were you in receipt of PAYE benefits in kind in that year (a car or van perhaps, is the make and model and dates it was available correct)?
  • Are the income or pension totals correct for each year?
  • Go back to any records or correspondence you have kept in relation to your PAYE coding noties.
  • If you find any errors or mistake, you need to write and inform HMRC.
  • If you agree the figures you do not need to take any further action, and HMRC will automatically make the adjustment via your PAYE coding.

-and just a little further down, this:

'Underpayment: HMRC delay ESC A19

Underpaid tax will not be due if the underpayment was caused by HMRC not acting on information that it was given to adjust a tax coding within a set time frame of 12 months following the end of the tax year, this is acccording to Extra Statutory Concession A19. '

Definitely challenge, obviously - go through it with chief number cruncher at work, over and over until you see how/why, if so.

Has something gone awry between previous employment and new?

You can go into this now that those assignments are gone - very interesting slant on topics. A bit of How to Square the Circle Effectively? I do like the sound of Diss. Sounds as if it will play to your strengths very well.

2 nsds out of 4 already:-)!

This is a terrific section:
'I find it slightly amusing that I am dreaming of pension pots and early retirement!!! - I guess knowing that I can stop work when I'm ready gives me the freedom to enjoy work and not see it as a ball and chain but a way forward'

All good judi:-))))))))))))))0

judi24

Its a strange one Ampersand I can't recall any changes that would have meant my tax would be different for the years the letters cover - but I certainly will be investigating before I agree to any repayment!!!


Also slightly annoyed that my bank has bounced a payment - my Smile account has one DD out per month which is my DD1 car payment - the problem is that my DD pays the payment into the account on her payday which is the 1st and the payment goes out on the 28th - normally it is not a problem but this month with the wedding the week before and the boiler etc I had not left enough in that account to cover the payment going out - I remembered about it on the 27th and moved money from my bills account across - however got a letter today to say they have referred to payee and charged me £12!!! Checked my statement and the money transfer went through on the 28th so I feel a phone call to Smile coming on as the money was in the account on the same day as the payment was to be taken!!! - going to move the DD to my bills account - which I should have done a while ago!!!!


Was reading a bit more about the dissertation today - it seems ok just need to get some real thinking done and have a chat with my tutor. But I am seeing her next week anyway!


Met a retired nurse today at a workshop who now 'works' for Health Watch - I have met her a number of times - but she was saying how much she misses work! I guess you never know how you will feel in the future - I just want to be in a position to choose! In my last job I got so disheartened and frustrated that I just wanted to give up my management role and go back to the ward - which would have been financially very difficult. Even now - after a few short months of changing my priorities, the way I spend and essentially the way I see life, I could do that now if I choose. So planning on making the most of the time (and income) while I am enjoying my role as you never know what might be round the corner!


Thank you for cheering me on &- you posts are very helpful and thought provoking :beer:

patanne

I agree with "& " you should go through your tax with a fine tooth comb. I would suggest, if you can't sort it to your satisfaction, posting on the cutting tax forum. They are all very helpful and may be able to point the way for you.

judi24

Thanks Pantenne - I will post over there tonight

tellmeitsfriday

Hi

Well done on assignments!

How is puddy tat? I presume fine, as there has been no more mention of the wee creature.

Re your tax bill - if you are on standard PAYE with a normal tax code the only time it should go wrong is when you change jobs if there is a delay in receiving P45. I'd do some maths or ask someone to help you. It's not hard. honest...!

judi24

Yes Lissycat is fine - vet said she is covered for cat flu in her annual jabs and should be fine!!! she is sitting here on a red cushion like a queen!!!


We the tax situation seems to have got me all confused - they don't make the letters easy to understand!!! but it seems like I have got the wrong end of the stick completely as I got REFUND today of £526!!!:j:j


Not complaining - all I can think of is that during that time I was buying childcare vouchers at source so maybe I was paying too much tax due to that!!!


Also NSD :T so 3 so far for Feb - not bad going at all!


Thinking as the tax rebate was an unexpected surprise I will use it to clear the Smile OD - which wasn't priority - but would be nice to have gone!!! (will help with mortgage acceptance supposedly!)

betsycat

Woweeee that's great Judi! A nice bit of news after the boiler spends :j

Busy_Mee

Woo hoo tax rebate ! That is a fab bonus, particularly when you thought it was a bill. I was pleased with a £137 rebate from my gas/electricity last week but £526 is fantastic x