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Am I getting overtaxed?
ribalta
Forumite 2 Posts
Hi folks,
To make it straight, I been working in a company for 5 month and after that because some financial difficulties in a part of the business my self and another 12 colleagues have been made redundant.
This happened 16th of October so I had my pay in lieu until 16th of November, a month notice.
I receive my last payment past Friday which should be:
-October full salary (which is 2000 pounds minus tax, around 1640 pounds a month)
-16 days of November 1023 pounds with tax
-And 10 days of holidays and overtime I had in my pocket, 923 pounds with tax.
So all of this make 3955 pounds with tax and I have a payment of 2917 pounds.
Is there something wrong or it's just my mind playing tricks?
Please see attached image with my last payslip (All references erased)
Many thanks.
http:// i.imgur.com /Xadhimk .jpg
To make it straight, I been working in a company for 5 month and after that because some financial difficulties in a part of the business my self and another 12 colleagues have been made redundant.
This happened 16th of October so I had my pay in lieu until 16th of November, a month notice.
I receive my last payment past Friday which should be:
-October full salary (which is 2000 pounds minus tax, around 1640 pounds a month)
-16 days of November 1023 pounds with tax
-And 10 days of holidays and overtime I had in my pocket, 923 pounds with tax.
So all of this make 3955 pounds with tax and I have a payment of 2917 pounds.
Is there something wrong or it's just my mind playing tricks?
Please see attached image with my last payslip (All references erased)
Many thanks.
http:// i.imgur.com /Xadhimk .jpg
0
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Replies
That should (I've been up since 4am, sorry if my maths is off) about right, possibly with a workplace pension payment if I'm wrong.
I can spell, my iPad can't.
http://payecalculator.hmrc.gov.uk/PAYE0.aspx
http://nicecalculator.hmrc.gov.uk/Class1NICs1.aspx
the way PAYE works you only get the proportion of your allowances as they don't know this is the last wage.
what happens next depend on how much you earn as you will have overpaid for the year 16/17 if you don't earn any more.
JSA is taxable so that will use up some of the tax and if you get another job it sorts itself out through PAYE. if by the end of the year you have still overpaid you will get a refund or have to do a return
Many thanks guys! really appreciate it.