Underpaid Tax & Maternity Allowance

7 Posts

in Cutting tax
Hello,
I currently owe HMRC money due to underpaying tax last year. This is currently coming out of my wages each month.
I started a new job in April this year, and found out soon after starting this job that I was pregnant. I believe that this means I will be missing out on SMP due to not being employed with this new employer for long enough, so will be on maternity allowance which is not taxable. I currently plan to go on maternity leave from work early November and return in the Summer.
Please feel free to correct anything I may have misunderstood!
Does this mean what I owe HMRC will roll over to next year or will I get a reduction on my MA payments due to owing tax?
I have the funds avaliable now to pay what I owe but would prefer to keep it for a "rainy day" if possible.
Any advice would be appreciated!
I currently owe HMRC money due to underpaying tax last year. This is currently coming out of my wages each month.
I started a new job in April this year, and found out soon after starting this job that I was pregnant. I believe that this means I will be missing out on SMP due to not being employed with this new employer for long enough, so will be on maternity allowance which is not taxable. I currently plan to go on maternity leave from work early November and return in the Summer.
Please feel free to correct anything I may have misunderstood!
Does this mean what I owe HMRC will roll over to next year or will I get a reduction on my MA payments due to owing tax?
I have the funds avaliable now to pay what I owe but would prefer to keep it for a "rainy day" if possible.
Any advice would be appreciated!
0
Latest MSE News and Guides
Childcare budget boost
More support for children from nine months and those on Universal Credit
MSE News
Replies
(Ha sido divertido)
(Ha sido divertido)
Yes my tax code is currently 868L so I am currently paying more tax on my wages.
I had not even thought of a refund - am so used to hearing HMRC taking away that I forgot that they can give as well!
I am probably just overthinking all of this - you guys have certainly helped settle my mind a little