Confusing Payslip!

Luis-FlightManWithAPlan

chrisbur wrote: »

On these details it is very unlikely that there will be any overlap of allowances, so very unlikely that there will be any adjustment coming in the future. (assuming that you get the 522L code or something close to it and do not have any other significant taxable income eg savings interest)

Assuming the above and if your earnings continue at £350 a month or thereabouts you will have no tax or NI deducted.

I obviously do not know your cicumstances but this is a very low income, you may be entitled to some benefits, indeed you may already be getting them, but if not have a look at http://www.entitledto.co.uk/

Thank you very much for your help on this,I really appreciate it!

I dont think ill apply for any benefits due to the hours of my job can vary based on how busy we are!

I think im on the 522L code,if this changes as it will soon (im guessing as I put in my P45 ?) Will I then get charged anything?

My contracted wage for a month is £315 without over time.

I have a few more questions,sorry to bother you with them.

If I earn over the £425 a month,do I then get charged say 20% (rough tax and NI) on my total pay or just the pay thats gone over the £425?

And lastly youll be glad to hear:p Do you know where I can find this information out on the web so that I dont drive you insane with my questioning?

Thanks again and to everyone else who had provided help:)

chrisbur

Luis-FlightManWithAPlan wrote: »

Thank you very much for your help on this,I really appreciate it!

I dont think ill apply for any benefits due to the hours of my job can vary based on how busy we are!

I think im on the 522L code,if this changes as it will soon (im guessing as I put in my P45 ?) Will I then get charged anything?

My contracted wage for a month is £315 without over time.

I have a few more questions,sorry to bother you with them.

If I earn over the £425 a month,do I then get charged say 20% (rough tax and NI) on my total pay or just the pay thats gone over the £425?

And lastly youll be glad to hear:p Do you know where I can find this information out on the web so that I dont drive you insane with my questioning?

Thanks again and to everyone else who had provided help:)

Your code will proberbly stay on 522L it is only the basis that will change. You should get a cumulative code. You are allowed to earn £5225 in this tax year before you pay tax. While you are on a month 1 code tax will be deducted if you earn over about £435 but only on the part that is over £435. When your code is changed to cumulative you would get credit for any month you earned less than this and might well get most if not all of it back. If your code is not sorted by the year end (5 April 2008) and you have paid any tax you have proberbly been overtaxed so can write to the tax office and ask them to check it and refund any overpaid tax.
NI works differently and you will have some deducted if you earn over £435 but it will only be on the bit above £435 and will be 11%.

Sorry don't know of any simple source of information on the web, it's all out there somewhere but spread over different sites and mixed in with a lot of stuff you proberbly never want to know. Best stick with this forum.

tigtag02

Luis-FlightManWithAPlan wrote: »

I think im on the 522L code,if this changes as it will soon (im guessing as I put in my P45 ?) Will I then get charged anything?

It depends what your tax code should be and is on your P45. It also depends on your year to date (YTD) earnings.

Luis-FlightManWithAPlan wrote: »

If I earn over the £425 a month,do I then get charged say 20% (rough tax and NI) on my total pay or just the pay thats gone over the £425?

Your tax free pay will be £435pcm. Then 10% on the next £185 and then 22% after that. This will change in April.
NI is 11% on earnings over £433

Luis-FlightManWithAPlan wrote: »

And lastly youll be glad to hear:p Do you know where I can find this information out on the web so that I dont drive you insane with my questioning?

HERE

Luis-FlightManWithAPlan

Chrisbur and Tigtag02 thankyou guys very much! Youve both been very very helpful:money:

I love this Forum,always answers those hard money questions for simpletons like me