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How much tax will I get back??
Comments
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its an x on my P452015 Big wins: luxury 7 night holiday in sharm el sheikh, theatre tix, £123, IPad Air 16gb, Night in London hotel celebjuicetix :, Portable dvd playerT
Best 2014: £900 VIP cheltenham races day, £200 H&M voucher, £300 camera, 2 nights luxury apt Harrogate, 5 nights glamping cumbria
Total:2010: £10,531, 2011:£11,0750 -
Hmm, the figures you quote don't seem quite right. If you are on the 522L tax code, the figures should read:
Gross Pay: £7,931.57
Tax Free Allowance: £5,220.00
Total Taxable: £2.711.57
Tax Paid: £328.95
NI: £300.47
Total Deductions: £629.42
You (should) take home: £7302.15
Hmmm could it be because I was working at my company from the period April 07 - 31/ August 07... I was on Tax code 522L ... then I went back to uni for two months ... then at the end of Ocotber they needed me back for a couple of months as someone left and I needed the cash so I went back and worked their part-time from very end of October 07 - December 24 2007 .. and they put me on tax code 522L M1
Does that make sense???
I am now a little confused2015 Big wins: luxury 7 night holiday in sharm el sheikh, theatre tix, £123, IPad Air 16gb, Night in London hotel celebjuicetix :, Portable dvd playerT
Best 2014: £900 VIP cheltenham races day, £200 H&M voucher, £300 camera, 2 nights luxury apt Harrogate, 5 nights glamping cumbria
Total:2010: £10,531, 2011:£11,0750 -
its an x on my P45
You were being taxed on a week 1/month 1 basis, proberbly an emergency code. This is why your tax looked wrong for the gross quoted. You also must remember that if you had any other taxable income (eg taxable jobseeker's allowance) other than this job it will affect the tax due for the year.0 -
No I have had no other benefit allowances .. as I worked at5 this company for around 2 years .... So how much tax back should I be looking at ??2015 Big wins: luxury 7 night holiday in sharm el sheikh, theatre tix, £123, IPad Air 16gb, Night in London hotel celebjuicetix :, Portable dvd playerT
Best 2014: £900 VIP cheltenham races day, £200 H&M voucher, £300 camera, 2 nights luxury apt Harrogate, 5 nights glamping cumbria
Total:2010: £10,531, 2011:£11,0750 -
Hmm, the figures you quote don't seem quite right. If you are on the 522L tax code, the figures should read:
Gross Pay: £7,931.57
Tax Free Allowance: £5,220.00
Total Taxable: £2.711.57
Tax Paid: £328.95
NI: £300.47
Total Deductions: £629.42
You (should) take home: £7302.15
Hmmm could it be because I was working at my company from the period April 07 - 31/ August 07... I was on Tax code 522L ... then I went back to uni for two months ... then at the end of Ocotber they needed me back for a couple of months as someone left and I needed the cash so I went back and worked their part-time from very end of October 07 - December 24 2007 .. and they put me on tax code 522L M1
Does that make sense???
I am now a little confused
Were the figures that you quoted the total of these two periods of employment, if not what were the figures for each employment?0 -
My Total Gross Pay TD was 7931.57
My total Tax TD paid 919.14
These figures are from my final payslip where I can see that the company has figured out all totals of tax Paid TD and how much I earned that finincial yesr at that company ... so yes these figures are the total amounts ...??2015 Big wins: luxury 7 night holiday in sharm el sheikh, theatre tix, £123, IPad Air 16gb, Night in London hotel celebjuicetix :, Portable dvd playerT
Best 2014: £900 VIP cheltenham races day, £200 H&M voucher, £300 camera, 2 nights luxury apt Harrogate, 5 nights glamping cumbria
Total:2010: £10,531, 2011:£11,0750 -
Income 7,931
Personal Allowance 5,225
Taxable 2,706
Tax:
£2,230 @ 10% = 223.00
£476 @ 22% = 104.72
Total = 327.72
Already paid at source = 919.14
Repayable = £591.42
This agrees with what mitchaa had already calculated, and arises due to being on a week 1/month 1 coding for the year and having periods of not working.
N.B. Calculation of NICs is not possible from the information given, the amounts deducted should be correct for each week or month and these are not repayable.I am an Accountant. You should note that this site doesn't check my status as an Accountant.All posts on here are for information and discussion purposes only and should not be seen as professional advice.0 -
Ok grat thanks
2015 Big wins: luxury 7 night holiday in sharm el sheikh, theatre tix, £123, IPad Air 16gb, Night in London hotel celebjuicetix :, Portable dvd playerT
Best 2014: £900 VIP cheltenham races day, £200 H&M voucher, £300 camera, 2 nights luxury apt Harrogate, 5 nights glamping cumbria
Total:2010: £10,531, 2011:£11,0750 -
You can genuinely do the 'Yay' bit now!;)If you want to test the depth of the water .........don't use both feet !0
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