0T M1 Tax Code

nervesplice

Hi,

I've just re-located back to the UK after the several years of working aboard.

I've received my first payslip this month and have been put on a 0T M1 (Month 1) Tax Code.

I also received a bonus which pushed my monthly earnings into the highest tax bracket i.e. I wouldn't be entitled to a personal allowance and would be taxed at the highest rate if that was my regular monthly salary.

This is my first job in the UK during this tax year and I have no other UK earnings.

My overall UK earnings for the 2016-2017 Tax Year will be significantly lower so I won't be charged at the highest tax band and would be entitled to a personal allowance.

I'm assuming that when my P60 is issued at the end of this Tax Year I'll get a refund on the additional tax I've paid? Or will I need to chase HMRC and prove that I've been over taxed?

I really appreciate any help or advice anyone can provide.

agrinnall

Speak to HMRC now (or at least before the end of March) and get a correct tax code issued so that your overpaid tax can be returned automatically.

booksurr

indeed, get the tax code changed by HMRC asap and any refund will be calculated and refunded automatically as part of your pay over the rest of this tax year.