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JSA Taxable income refund?
moped_mark
Posts: 56 Forumite
in Cutting tax
Hi All
Quick question!
Basically I havent had a job for a few years and was untill recently on jobseekers. Now I have a job and I've received a letter from the jobcentre saying they have "paid a total of £776.40" taxable income.
Now as I only have 2 months pay (roughly £1000 pm) left before the start of the new tax year, does that mean that I will get the £776 refunded because I havent reached the threshold of the personal allowance?
Quick question!
Basically I havent had a job for a few years and was untill recently on jobseekers. Now I have a job and I've received a letter from the jobcentre saying they have "paid a total of £776.40" taxable income.
Now as I only have 2 months pay (roughly £1000 pm) left before the start of the new tax year, does that mean that I will get the £776 refunded because I havent reached the threshold of the personal allowance?
0
Comments
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Do you mean that you have paid £776.40 income tax? Taxable income is not the same as tax.
How long were you claiming JSA for?Gone ... or have I?0 -
no its "taxable income"- thats how its put in the letter.0
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In that case that is not what you have paid, that is the amount that is taxable! Check how much they have been paying you each fortnight, chances are that you have not paid a penny of tax! xGone ... or have I?0
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JSA is taxable income so the £776.40 you received when you were claiming it has to be added to your other taxable income, from all sources, in the tax year when HMRC considers how much tax you should have paid.
If your only other income from April 07 to April 08 is only £2000 then
£2000 + £776.40 = £2776.40 which is less than your tax free allowance of £5225 and so you will not have a tax bill from the tax office.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Great! So no income tax for feb or march's pay?!0
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No, unless you are not yet on your correct tax code. If that is the case, you will pay tax but then get a refund later.Gone ... or have I?0
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well I've just got my p45 and handed it in and the code was 522L so it looks right.0
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The P45 code is only relevant if your new payroll dept process it in time. Give them a call and double check?Gone ... or have I?0
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moped_mark wrote: »well I've just got my p45 and handed it in and the code was 522L so it looks right.
Check the box to the right of your 522L code, if this has an X in it then you are on a week 1/month 1. If this is the case it means that for the moment no allowance will be made for previous earnings. You will have to wait for the tax office to put you on a cumulative code.0
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