How much will be my Tax

stealth76

Hi,
This is my first time in UK. i have just started a new job. My salary is £50, 000 Per annum. I would like to know how would be my take home every month after all taxes.
I just recived my payslip and it says tax code 522L M1. can you please let me know what should be my tax home.

stealth76

hi, thanks for the reply, let me give you the details in the payslip.
My payslip is for 2 months accumulated. of which i started the first month on the 7th.
so my total pay is as follows for 2 months
month 1 - > 3653.84 ( since i started on the 7th)
month 2 - > 4166.67

Total TAX : £2412.29 (code 522L M1)
NI : £320.75 (Category A)

I receive £5097.84 after dediction of £2733.04

as per the calculator i should recieve more. but i did not understand the tax cut. can you please help to understand better.
PS: i still have not recived my NI number, as i applied for one and am waiting.

Your help would be highly appreciated.

chrisbur

stealth76 wrote: »

hi, thanks for the reply, let me give you the details in the payslip.
My payslip is for 2 months accumulated. of which i started the first month on the 7th.
so my total pay is as follows for 2 months
month 1 - > 3653.84 ( since i started on the 7th)
month 2 - > 4166.67

Total TAX : £2412.29 (code 522L M1)
NI : £320.75 (Category A)

I receive £5097.84 after dediction of £2733.04

as per the calculator i should recieve more. but i did not understand the tax cut. can you please help to understand better.
PS: i still have not recived my NI number, as i applied for one and am waiting.

Your help would be highly appreciated.

As your two months salaries were paid together you need to put the total of the two into the calculator, the tax and NI will then come out to almost exactly what was deducted.
You are at the moment on a month 1 code proberbly an emergency code, did you have a P45 or have you filled in a P6?

stealth76

Hi, thanks for the reply..but what i feel is my entire accumulated salary for 2 months has been taxed. as per the tax caculator i should have approx £435 exempted per month for tax (as per the 40% bracket). can you please clarify this. i would really appreciate if you could. I still feel i have been taxed more. but i need clarification. really appreciate your help in letting me know how they have taxed me. Below are the exact details as per the pay slip once again

month 1 salary - > £3653.84 ( since i started on the 7th)
month 2 salary - > £4166.67

Gross Pay -> £7,8210.51
Taxable pay -> £7,8210.51

Tax -> £2412.29 (code 522L M1)
NI -> £320.75 (Category A)

Total Amount paid -> £5087.47

fengirl_2

You are on emergency code which, on the face if it ,means you are paying too much tax. However, in order to advise you properly, we need to know the country you have come from and how long you are intending to be in the UK.

stealth76

Hi, i am on a HSMP dependent visa, since my wife is a doctor and is here for some time now.i have come from dubai where i was working. well i hold an indian passport, and i intend to stay here for long. so could you please tell me on what basis have i been taxed more.

ScarletBea

Sorry to invade your thread, but fengirl, you're saying he's in an emergency code because of the M1 after the code, right?
Because I was sort of in the same situation as him last year. The company apparently hadn't sent my P46 to the tax offices, and when I called them, they told me to write a letter with all details. After that, I received the confirmation of my tax code and it's the same 522L as he has.
It was the same as I had initially, and everybody was saying that it couldn't be right, but they confirmed it. And this despite me having a company car (although I pay for it, more than the amount the company pays).

noh

Because you were paid two months salary at once on one pay slip only one months tax allowance has been applied. This is correct as it is the date paid that is used to determine the tax to be paid not the date earned.
You are on a on a week 1/month 1 basis "emergency" tax code now. When you are issued with a normal code the amount of tax you pay will be adjusted to so that you have paid the correct amount over the year.

Nigel

stealth76

Thanks for all the replies. as per the tax caculator i should have approx £435 exempted per month for tax (as per the 40% bracket). can you please clarify with regard to this. as i i feel that was not taken into consideration, and they have taxed my entire gross salary for the month.
Till when will i be on emergency tax code??. Is it till i get my NI number, as i have applied and am waiting for that. Will i be eligible to claim for the extra tax money that i have paid once i get my normal tax code. also under which tax code should i actaully be in?

fengirl_2

You need to go to www.hmrc.gov.uk and download form P86, You fill this in and send it to your tax office (your emplyer will give you the address). Whether or not you get personal allowances depends on how long you intend to be here as you are not from the EU or a Commonwealth country. You will therefore need to be more forthcoming on the P86 about your plans.

Cook_County

Just a word of caution here - under the government's current proposals stealth76 won't be entitled to a personal allowance after 5 April 2008 unless he states on the P86 an intention sufficient to indicate he would treated as ordinarily resident.

HMRC are not geared up for the change because the Budget is not until 12th March - and the proposed law has still to be discussed and agreed by Parliament.

There is a good chance, therefore, that he and many hundreds of thousands of others who are not ordinarily resident in the UK may underpay tax after 5 April 2008.