Too much tax?

mace80

Hello All,

Okay I be short and quick. I just checked my payslip and I was totally :eek: !!!!!! when I saw the deduction. Can someone please give me 'factual' advice based on this situation, did I pay too much tax

Before tax
Basic Pay £2,000
Sell Holiday £461.50 (company allows staff to sell any remaining holidays, taxable)
Bonus £1,154
TOTAL - £3615.50

Deductions

Nat Ins £349.96
Income Tax £557.40
Student Loan (plan 1) £194
TOTAL - £1,101.36

Pay after Deductions

£2,514.14


Someone please tell me this is wrong, just seems the amount is far too high for a person on a humble salary, thanks in advance!

[Deleted User]

Hi,

massive bonus £11,154?

mace80

:rotfl::rotfl: i wish, sorry for the typing error

chrisbur

mace80 wrote: »

Hello All,

Okay I be short and quick. I just checked my payslip and I was totally :eek: !!!!!! when I saw the deduction. Can someone please give me 'factual' advice based on this situation, did I pay too much tax

Before tax
Basic Pay £2,000
Sell Holiday £461.50 (company allows staff to sell any remaining holidays, taxable)
Bonus £1,154
TOTAL - £3615.50

Deductions



Nat Ins £349.96
Income Tax £557.40
Student Loan (plan 1) £194
TOTAL - £1,101.36

Pay after Deductions

£2,514.14


Someone please tell me this is wrong, just seems the amount is far too high for a person on a humble salary, thanks in advance!

To do a proper check I need a bit more detail. From the payslip need the tax code, taxable gross to date and tax paid to date.
Have to say though that it is looking fairly close at the moment.

t0rt0ise

A quick calculation shows it to be correct. Sorry.

mace80

Income Tax £2227.80
National Ins £1524.52
Student Loan £1492

This is the most recent slip (dec 16)

chrisbur

mace80 wrote: »

Income Tax £2227.80
National Ins £1524.52
Student Loan £1492

This is the most recent slip (dec 16)

Still not given the tax code or taxable gross to date.

Sharon87

Use this site to work out your payments
https://listentotaxman.com/

But by the looks of it it looks correct. Based on that payslip it seems you earn £43,386 a year (if it's a monthly payslip), obviously that's not the case because of the one off bonus. If at the end of the tax year you've overpaid tax you can get it refunded.

Sharon87

Tax code will be something like 1100L

mace80

chrisbur wrote: »

Still not given the tax code or taxable gross to date.

Tax Code 1100L

19396.12

mace80

Tax Code 1100L

£19396.12 (Dec 2016)