Wages and Tax

questricky8

Hi All, I just started a new job recently. I received my first paycheck last week. I was payed significantly more in tax than I thought I would.



I think this is because I didn't hand my P45 in and maybe HMRC didnt get the correct number code in. My question is , will I get the money back once its resolved? And, will I buy overcharged again next month? How long do these things take? Thanks

marliepanda

You will go on emergency tax because you didn!!!8217;t hand in the P45. It will be resolved. Time lines depend on when you either have in your p45 or filled in the other form you do when you don!!!8217;t have one...

Alice_Holt

Best to ask this on the Cutting Tax Board.
This board is for Benefits (look at all the other threads).

I would suggest you proactively contact HMRC, and give your P45 to your new employer asap.
Does your payslip give your tax code as BR?

"What is a BR Tax Code?
BR stands for Basic Rate and means all your income from this source is taxed at 20%.

The code is normally used temporarily until your employer has all of the necessary details to give you a correct code and apply the correct tax.

The BR code is not necessarily wrong, but needs to be checked to make sure you!!!8217;re not overpaying on tax.

Why have I got a BR code?
There are a few reasons including:

1. Being given a BR tax code because your employer does not have enough information to give you the correct code. In other words, you probably haven!!!8217;t given your new employer a P45 or completed P46; which is the most common reason for people to be issued with a BR code."


You will need to sort this out yourself with the employer / HMRC if you want it resolved quickly.

calcotti

This isn't really a benefits question but . .

Your employer has probably applied an emergency tax code. They will have to rely on HMRC to tell them what tax code to use. When they have the correct information the PAYE system should automatically correct itself and you will get a refund through your employer.

Can't say how long it will take - it shouldn't take long but sometimes things go wrong.

questricky8

Whoops sorry I posted this question on the wrong forum. Sorry about that. In my payment slip BR is not listed Alice. It says pay method BACS im not sure if thats related or not. I have informed my employer about the P45. So fingers cross I will not have this issue next month and I can get some reinbursement. Thanks for your replys.

Darksparkle

What tax code have they operated?

xylophone

It says pay method BACS

This does not relate to your tax code but to how your salary is paid into your bank account.

Look at sample pay slip here

https://www.google.co.uk/search?q=sample+payslip+uk&tbm=isch&source=iu&ictx=1&fir=bdEh8xFjG8ZHhM%253A%252CrF4TpdtNmTT8gM%252C_&usg=AFrqEzcdzZO3yTYBr86YPPVIVsFXlVcALA&sa=X&ved=2ahUKEwi67pn8sNbcAhUCixoKHQs8BZUQ9QEwAXoECAUQBg#imgrc=bdEh8xFjG8ZHhM:

What is shown on yours under tax code?

https://www.gov.uk/tax-codes