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tax increase
mr1968
Posts: 1 Newbie
in Cutting tax
Hi
I have just seen this months payslip and i have paid £80 more in tax this month than last month. I get paid the same each month,i am in normal tax bracket with company car.I have had a couple of small bonuses over the last few months but i do not understand why my tax has shot up this month. My tax code is the same as last month and i have had no letters from HMRC. Any ideas?
I have just seen this months payslip and i have paid £80 more in tax this month than last month. I get paid the same each month,i am in normal tax bracket with company car.I have had a couple of small bonuses over the last few months but i do not understand why my tax has shot up this month. My tax code is the same as last month and i have had no letters from HMRC. Any ideas?
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Comments
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"I get paid the same each month...I have had a couple of small bonuses over the last few months"
That's contradictory. I assume the extra tax is on the bonuses.Now a gainfully employed bassist again - WooHoo!0 -
First of all the only sure way to work out what is happening to tax is by checking the figures. If you give the following details from the last two payslips this can be done.mr1968 said:Hi
I have just seen this months payslip and i have paid £80 more in tax this month than last month. I get paid the same each month,i am in normal tax bracket with company car.I have had a couple of small bonuses over the last few months but i do not understand why my tax has shot up this month. My tax code is the same as last month and i have had no letters from HMRC. Any ideas?
Taxable gross
Tax paid
Tax code/basis
Taxable gross to date
Tax paid to date
Month number or date paid
One thing that is a possibility is that when you received your bonus this may have resulted in some tax being deducted at 40% when your pay went back to normal some of this tax at 40% could have been converted to tax at 20% so reducing your tax figure. When it has all been converted to tax at 20% you go back to "normal" tax which appears by comparison to tax when 40% was being converted to 20% to have gone up. This may or may not be the case here, either way the figures I have asked for will show if this is the case or if it is something else.1
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