We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Help with estimating tax rebate - new job 1/2 way through year
skintpaul
Posts: 1,510 Forumite
Have a new job starting in November, been on JSA since start of tax year (long before that actually,.)
total gross earnings and JSA combined will be about £9,500 by end of 2015/2016 period-
would all the tax paid on wages (as under £10k threshold?) get refunded?
Or would tax code adjusted, so no / little tax charged, as I go through the year?
My calcs-
Approx 7 months JSA c £2,000.
5 months gross pay £7,500.
Average income tax on salary = c. £1,500 (20%?)
total gross earnings and JSA combined will be about £9,500 by end of 2015/2016 period-
would all the tax paid on wages (as under £10k threshold?) get refunded?
Or would tax code adjusted, so no / little tax charged, as I go through the year?
My calcs-
Approx 7 months JSA c £2,000.
5 months gross pay £7,500.
Average income tax on salary = c. £1,500 (20%?)
breathe in, breathe out- You're alive! Everything else is a bonus, right? RIGHT??
0
Comments
-
You won't pay any tax on the first £10,600 of income :
https://www.gov.uk/income-tax-rates/current-rates-and-allowances0 -
Cool. Will have to put some ££ aside, for holiday then!breathe in, breathe out- You're alive! Everything else is a bonus, right? RIGHT??0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards