We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Pilon

Hi

i don't know if anyone can help me,but i just received my pilon for 11 weeks pay.

the pay slip is as follows,
Earnings £4122.88
tax code 0tm1 £1020.46
ni £399.10
pay £2703.32

As his PILON  will be processed through payroll in Jan 2022 emergency tax code has applied.
Does anyone know what happens next?do i get my tax back in jan?
Thanks for any help

Comments

  • chrisbur
    chrisbur Posts: 4,296 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Has this been paid after a P45 has been issued.

    The exact tax position will depend on earnings in total in the old job and earnings in new job if applicable.  
    In many but not all cases use of this 0T code ( which is not the emergency code that is very different) results in the correct deduction of tax.
  • kippo1
    kippo1 Posts: 548 Forumite
    Part of the Furniture 100 Posts
    No i haven't received a p45 yet and i won,t be working for the foreseeable future as i have long covid.
    what happened was the company paid me all my holiday which was due on my payslip and forgot to pay me the 11 weeks notice,when i asked where my notice was they put the £2703 in my bank account and emailed me this payslip


  • chrisbur
    chrisbur Posts: 4,296 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    edited 24 December 2021 at 1:03PM
    In these circumstances you would be best to do a P50
    The details are here
    https://www.gov.uk/government/publications/income-tax-claiming-tax-back-when-you-have-stopped-working-p50
    May not be possible if getting some sort of taxable benefit. Same link for details.
  • kippo1
    kippo1 Posts: 548 Forumite
    Part of the Furniture 100 Posts
    Thanks for your help chris appreciate it

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.