Tax Code 1248L

naturaljazz

My tax code takes off £13 a year from PAYE for interest on savings. I have zero savings, only monthly salary. I paid no tax this month as wages is low and not many hours. This is my first job. Was emergency taxed first month and they took £158.40 in tax and I rung up HMRC and got that changed. No refund of that yet, is that usually in April, seems a long time to wait for money back? Thank you for any advice.

agrinnall

If your tax code has now been changed then the overpayment will be returned to you over the course of the tax year, starting with your next pay, but without more information it's impossible to say how soon it will be fully repaid.

Dazed_and_confused

I wonder if the "first month" was in the previousl tax year?

In which case no refund through this year's wages but HMRC will automatically refund any tax overpaid sometime in the next few months.

And if you no longer expect to receive any interest in the current tax year you can ask for your tax code to be updated however this won't really change anything unless your annualised earnings exceeds £12489.