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Salary sacrifice scheme
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susieQ222
Posts: 1 Newbie
in Cutting tax
HI,
I currently have a car on an NHS salary sacrifice scheme. This is the third of 3 cars that I have had over the past 7 years.
When I had my first 2 cars (the term on each was 3 years) I mistakenly thought that my income placed me in the 40% tax bracket, so when I ordered the cars, that is what I put on the online form.
It wasn't until i applied for the car that I have now (that I have had since February 2016) that I realised my mistake, and that my earnings are below the threshold for the 40% tax bracket.
So, looks like I was paying more tax over the 6 year period that I had the first two cars.
Can anyone advise as to whether there is a way to reclaim this, and if so how best to go about it?
thank you in anticipation,
Sue
I currently have a car on an NHS salary sacrifice scheme. This is the third of 3 cars that I have had over the past 7 years.
When I had my first 2 cars (the term on each was 3 years) I mistakenly thought that my income placed me in the 40% tax bracket, so when I ordered the cars, that is what I put on the online form.
It wasn't until i applied for the car that I have now (that I have had since February 2016) that I realised my mistake, and that my earnings are below the threshold for the 40% tax bracket.
So, looks like I was paying more tax over the 6 year period that I had the first two cars.
Can anyone advise as to whether there is a way to reclaim this, and if so how best to go about it?
thank you in anticipation,
Sue
0
Comments
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When you put 40% tax payer on the forms, it was probably just so that the personal illustration that they give you was tailored to a 40% tax payer - it would not have had any effect on your tax calculation at all.
To convince yourself that you have been taxed correctly, have you received any P800's from HMRC? These will show you the tax you have been charged for the year.
If not, check your tax codes correctly show your car benefit and then check on your P60 the amount if tax you have paid.0
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