OT Tax Code Help

purpleaki

Hello,

I started a new job at the beginning of the tax year. However, i was due a bonus and another one off payment in June and July this year from my old employer.

They sent me ad hoc payslips through the post and i was paid using the OT tax code. Had a look online and this makes i guess because my old company have no way of knowing what i earn now so had to use an emergency code. I presumed i would get this back so left it.

Now i have started another new job in the last few weeks. Received a letter from the HMRC last week saying i have UNDERPAID tax and they have adjusted my tax code to reflect, changing my personal allowance to 1020L or something. Not a great deal of money, but annoying because i think i am owed tax

Now i know i haven't gone specifically gone into how much I earn but before i contact the HMRC i would be interested to know if anyone can help as i can't find specifics on Google:

1) Should i be refunded the extra tax i paid on the OT income?
2) Will this sort itself out on its own at the end of the tax year?
3) Regardless of 2) is it worth my while to call up and would they even do anything now anyway or just tell me to see what happens at the end of the tax year?

Thanks

agrinnall

Impossible to say without knowing how much you earned. If you won't tell us then I would recommend that you call HMRC just in case it doesn't sort itself out.

purpleaki

Fair enough.

3rd April - 6th July - 42k
9th July - current = 45k

Two payments I got on OT code (gross) were £2,100 and £400

Dazed_and_confused

Tax code 0T isn't an emergency tax code, it is standard for this to be used by an ex employer.

As you are clearly a basic rate payer, bordering on high rate, then the 20% tax you have paid on the payments of £2100 and £400 would be the minimum tax which will be due.

If your total taxable income exceeds £46,350 in the year, which seems quite possible, even likely, when these two additional payments are included, then you may owe additional tax over and above the 20% your ex employer deducted.

chrisbur

purpleaki wrote: »

Fair enough.

3rd April - 6th July - 42k
9th July - current = 45k

Two payments I got on OT code (gross) were £2,100 and £400

To really understand your tax position you need to give from your last payslip your taxable pay to date, tax paid to date, tax code/basis, month number and any previous gross and previous tax shown. If no previous gross/tax shown then figures from last payslip in old job taxable pay to date, tax paid to date, tax code/basis and month number.