Should I cut my hours.

HamiltonPOLE

moneyonmymindsam wrote: »

Hi,


Did you complete a new starter checklist with your employer?

The Tax code given is showing allowance as 2090 - 2099 rather than the 1060 allowance that it should be ...

Cracking the Letter is key ....and I believe T is the letter for tax under review ...so I would try to sort this sooner rather than later and not rely on your employer to just sort this ....

What is the fastest route?

pinkteapot

SeniorSam wrote: »

Maximising earnings = working more = LOGIC

Just to expand on this in case OP is unaware... Income tax is progressive, meaning that you never earn less by working more.

Even if you did earn over the tax-free threshold, you would only pay tax on the bit of your earnings above the threshold.

Eg with simplified figures:

Suppose income tax is 10% of earnings above £10k.

If you earn £10k, you pay nothing, netting £10k.

If you earn £10,100, you pay £10 tax (10% of the £100 over the threshold) and net £10,090. You've paid some tax, but still netted more than if you'd stuck to earning £10k.

Sounded like you might think that going over a threshold could mean you ended up with less money?

jem16

HamiltonPOLE wrote: »

What is the fasted route?

Phone HMRC around 8am.

p00hsticks

Were you ever in your old and current jobs at the same time or did you start your current job after your previous one ended ?

From your tax code, it sounds possible that HMRC may think you still have two jobs, and that not all of your tax allowance is being considered in your current job.

As others have pointed out, the standard tax code for someone with just one job/pension is 1060L s o you need to find out why yours is different

CLAPTON

HamiltonPOLE wrote: »

My previous place of work closed down, but I'm sure I filled out a p45
This has been my job of 3 years. I just work on holidays when I'm not in school.

very unclear

but if you have only worked in one job for 3 years then P45 etc are irrelevant

as already said, phone HMRC with the full details of your employment pay and tax from 6th April 2015

depending upon the circumstances are you sure your tax was correct for previous years?

HamiltonPOLE

p00hsticks wrote: »

Were you ever in your old and current jobs at the same time or did you start your current job after your previous one ended ?

From your tax code, it sounds possible that HMRC may think you still have two jobs, and that not all of your tax allowance is being considered in your current job.

As others have pointed out, the standard tax code for someone with just one job/pension is 1060L s o you need to find out why yours is different

I was unemployed for 2-3 months before securing the job I have now. I will try ring up HMRC now.

zygurat789

HamiltonPOLE wrote: »

I was unemployed for 2-3 months before securing the job I have now. I will try ring up HMRC now.

Tax works on a year by year basis each year being totally separate from others. With a code number like that you may be entitled to a tax refund. You can only claim back four years. If you have P60s or the final payslip you received before 5 April in each year, we could adviose if you posted the figures here