Not enough PAYE?

Victorwelldue

I recently entered a pension salary sacrifice scheme, I sacrifice down to £30K per year. My employer is only deducting around £55 per month for PAYE tax which seems way too low to me or am I missing something? I also recently got a BIK for medical insurance, according to the insurance provider the annual subscription including IPT is £500. Nothing about the BIK is mentioned on my pay slip at all. Before I talk to my payroll department am I missing something here?

molerat

What tax code are they using ?  Does that match what is shown on your on line tax account ?

Victorwelldue

molerat said:

What tax code are they using ?  Does that match what is shown on your on line tax account ?

S1288L. Yes matches with my online tax account.

zagfles

PAYE works on a year-to-date basis if you have a cumulative code as you appear to (most people do). You're probably getting refunded some higher rates of tax you paid earlier in the year. It'll likely go up in the new tax year.

[Deleted User]

Victorwelldue said:

molerat said:

What tax code are they using ?  Does that match what is shown on your on line tax account ?

S1288L. Yes matches with my online tax account.

When did you commence in this employment?

Victorwelldue

OK thanks I'll keep an eye on it for a few more months before bringing it up.

Victorwelldue

[Deleted User] said:

Victorwelldue said:

molerat said:

What tax code are they using ?  Does that match what is shown on your on line tax account ?

S1288L. Yes matches with my online tax account.

When did you commence in this employment?

Been with same employer for years.

zagfles

The tax deducted will almost certainly be correct. When did you start the sal sac and what was your pay before?

Victorwelldue

zagfles said:

The tax deducted will almost certainly be correct. When did you start the sal sac and what was your pay before?

Just a couple of months ago. £60K.

zagfles

Victorwelldue said:

zagfles said:

The tax deducted will almost certainly be correct. When did you start the sal sac and what was your pay before?

Just a couple of months ago. £60K.

Sounds about right then. You'll be getting refunded some of the 41% rate you were paying before. Tax will go up a lot in the new tax year.

Victorwelldue

zagfles said:

Victorwelldue said:

zagfles said:

The tax deducted will almost certainly be correct. When did you start the sal sac and what was your pay before?

Just a couple of months ago. £60K.

Sounds about right then. You'll be getting refunded some of the 41% rate you were paying before. Tax will go up a lot in the new tax year.

Ah ok, makes more sense now. Thanks.