RSUs from US company, Pension Salary Sacrifice, what do I tell HMRC?

sho_me_da_money

Ok final question.

For some weird reason, HMRC had my gross total earnings for this year at £108,000 with a tax code of 829T as opposed to 1257L. I also noticed this weird tax code applied to my April and May wage slips.

The correct total gross earnings for 2022 is £75,000 (not 108K) based on the following:

1. Gross salary per month minus salary sacrifice
2. Gross value of RSUs being awarded this year in GBP

I have updated this figure (£75K) onto the HMRC website. This was updated within 24 hours and my tax code changed from 829T to 1257L.

Given that the wrong tax code was applied to two wage slips already, do you know if I am owed anything? If I am, do I need to do something to claim it back or will HMRC take care of this automatically over the year?

Thanks,

Dazed_and_C0nfused

Have you been asked to file a Self Assessment return for 2021:22?

If not did you have any other taxable income in 2021:22 apart from what's on the P60?  Interest or dividends for example.

sho_me_da_money

Nothing at all D&C

No other income. Never been asked to fill in an SA. I thought I had to regarding the RSU dilemma but thanks to you, I don't need to do anything more. What do you reckon I do about the wrong tax code months?

Dazed_and_C0nfused

Got my tax years mixed up sorry.

Any overpaid tax will be refunded by your employer the next time they pay you (assuming they implement the new 1257L tax code).