Paying 50% income tax!
Comments
-
I see many question, so I will answer in order. Im working for 24.7 Recruitment Services Agency, I'm not sure if its a big company or not. The amount I get paid is correct.
1 week:
Taxable income - 330
Income tax paid - 165
National insurance paid - 20.16
I get paid 144.84
2 week:
Taxable income - 281.88
Income tax paid - 140.94
National insurance paid - 14.38
I get paid 126.56
Im not sure if my company used correct tax code, I have updated it in HMRC about 5 days before I should get first payslip in new tax year. The main office of company is outside London, we have an agent who is coming to our warehouse from time to time but when i talked to him he seemed to didnt know anything, or he just didnt care. Today I called to the office and they promised to send me all payslips by email and to sort out the income tax problem. The only thing they send to me so far is a Pension letter, so I will update this thread when I get any information. Thank You for all answers!
The most important items are unfortunately missing. It is the tax code and/or the taxable pay/tax paid to date that should show the problem. Can you ask your employer to supply these details for each week?0 -
HMRC shows that tax code for 18-19 tax year is 1185L. Estimated taxable income- 15.500. I have to wait for more information. The strange thing is that on my first two payments (previous tax year) when I had BR emergency tax code for sure, I paid "only" 60 pounds weekly (20%). After that it jumped to 50%.0
-
The only way you can be paying 50% tax, as has been said, is if the employer is operating a large K code.
When did you call HMRC. You say in four first post it was when the new tax year started, that was only last week. If thats the case its entirely possible that the 1185L code didnt reach your employer in time for this weeks payroll run.
It generally takes around 72 hours from the date the code was issued to when your employer receives the code.
Your employer can run their payroll anything upto a week before your actual payment date.
When possible contact your employer and ask if they have received an updated tax code for this tax year. Also ask what tax code they have been using.[SIZE=-1]To equate judgement and wisdom with occupation is at best . . . insulting.
[/SIZE]0 -
Thank You I will inform on Monday when I call the office again.0
-
The only way you can be paying 50% tax, as has been said, is if the employer is operating a large K code.
Also a possibility that some figures have been wrongly added into the taxable pay to date total, which is why I am suggesting the OP gets this figure as well as the tax code used.0 -
https://24-7recruitment.net/job/warehouse-operatives-18/
Benefits of working with 24-7 Recruitment include:
28 days accrued annual leave per annum (inclusive of statutory holidays PAYE only)
Online payslips
Excellent pay rates
Work wear and uniform
On-going assignments0 -
Today I recieved all payslips. First thing I noticed is that these payslips looks like from previous tax year with old tax code.
1 payslip - 330 pounds
06.04.2018
Tax code 1150
Deductions:
165 tax
20.16 Ni
Totals this period:
Gross:330
Gross for tax:330
Payments:330
Deductions:0
Additions:0
Totals year to date:
Gross:15.235.00
Taxable gross: 15.235.00
Tax paid: 1 330.80
Ni paid: 0.00
Pension: 0.00
Tax relief: 0.00
2 payslip - 281.88 pounds - 13.04.2018
Tax code 1150L
Deductions:
Tax 140.94
Ni 14.38
Totals this period:
Gross 281.88
Gross for tax 281.88
Payments 281.88
Deductions 0.00
Additions 0.00
Total year to date:
Gross: 15.516.88
Taxable gross: 15.516.88
Tax paid: 1.471.74
Ni paid: 0.00
Pension: 0.00
Tax relief 0.00
What do you think about it?0 -
The payslips make no sense, the YTD figures cannot be right, so you need to go back to your employer and ask them to issue you with correct information. It looks to me like their payroll system is a complete mess so it may take a while to sort out.
One question for you, are other employees also having problems with their pay and payslips?0 -
Some people didnt recieve last 2-3 payslips aswell, but I didnt heard anyone complaining about 50% income tax so i suppose its only in my case. Maybe they will sort it out until Wednesday when we should get new payslips.0
-
You need to with your employer and tell them that their errors are causing you hardship. They have overtaxed you in the region of £274 over 2 weeks, managing payroll in that manner is simply unacceptable. Strangely they have managed to get the NI correct for 2018 rates.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608K Mortgages, Homes & Bills
- 173K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards