How to get a tax rebate inc Tax Code Checker
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In which case (you don't say which is which) you are likely to finish with unused allowances - and therefore overpay overall.
To illustrate. If the 349L applies to the job at £2584 - then (349 is £3495 of personal allowances) you would have around £910 of unused allowances. If you earn over £3983 in your other job then you will overpay (£910 @ 20%
£182 overall.
You would be better asking HMRC to adjust the Code for the lower earning job to somewhere around 200L. That would make the other one 547L. In that way - provided you earn at least £2000 in the lower job and £5475 in the other - your tax will be OK overall.my p60 for 2010 says 647L and total for the year was £2583.90
........ that looks a bit odd as you have the full personal allowance for the year against the lower paid job. What does the P60 say for the other job (pay / tax / Code)? If the Code is BR - then you will have overpaid. If it's also 647L - then you will have underpaid.If you want to test the depth of the water .........don't use both feet !0 -
thank you Mikeyorks, much apprieciatedIn which case (you don't say which is which) you are likely to finish with unused allowances - and therefore overpay overall.
To illustrate. If the 349L applies to the job at £2584 - then (349 is £3495 of personal allowances) you would have around £910 of unused allowances. If you earn over £3983 in your other job then you will overpay (£910 @ 20% £182 overall.
You would be better asking HMRC to adjust the Code for the lower earning job to somewhere around 200L. That would make the other one 547L. In that way - provided you earn at least £2000 in the lower job and £5475 in the other - your tax will be OK overall.
........ that looks a bit odd as you have the full personal allowance for the year against the lower paid job. What does the P60 say for the other job (pay / tax / Code)? If the Code is BR - then you will have overpaid. If it's also 647L - then you will have underpaid.
let me say what job is what:
349L is my job i do more often, on the P2 it said:
£7475 take away other earnings £3983 equals a tax free amount of £3492
398Tis other job where i only work 2-3 days a month, on the P2 it said:
balance of tax allowances £3983
a tax free amount of £3983
does that helps? i am sorry i do not know what i am really talking about here
to answer the other question about the P60 is that i started my second job only in November 2010 so i do not have a P60 for my lower pay job
i am sorry but i still don't know what i should be doing next
please help
WELSA0 -
i started my second job only in November 2010 so i do not have a P60 for my lower pay job
OK - that partially sorts out my query - I'll come back to it at the end.
Two choices :- You can do nothing. You will likely overpay tax in 2011-12 if you keep both jobs. And HMRC should automatically refund you round about Sept 2012 - when they do a reconciliation.
- My choice. Give them a ring - and ask they amend the Code for the lower paid job to 200L. And the other one to 547L. That will keep you straight.
If you want to test the depth of the water .........don't use both feet !0 -
thank you Mikeyorks,OK - that partially sorts out my query - I'll come back to it at the end.
Two choices :- You can do nothing. You will likely overpay tax in 2011-12 if you keep both jobs. And HMRC should automatically refund you round about Sept 2012 - when they do a reconciliation.
- My choice. Give them a ring - and ask they amend the Code for the lower paid job to 200L. And the other one to 547L. That will keep you straight.
1) i finally got the first bit of my problem, so i appreciate it
2) as far as my P60 is concerned i just checked how much i got so for this year in gross pay to date and it is £4468.83 so i think we can be confident that it will reach £5000 till 5th April. In the beginning of the year i remember i had to declare an amount for the Child Tax Credit Office and i said it could be at around the £8200 mark.But now i know i will not reach it as April is almost upon us.
am i thinking correctly now?
Does it all help or did i confuse you even more? So what does it all mean? what are my next steps as far as the P60 is concerned?
WELSA0 -
what are my next steps as far as the P60 is concerned?
I only wanted the P60 figures to gain an idea of your earnings - as the split personal allowance will leave you overpaid.
I would simply ring HMRC and ask they re-apportion the allowance as 200L (lower paid job) and 547L. That should keep you straight and utilise your allowances fully?If you want to test the depth of the water .........don't use both feet !0 -
I only wanted the P60 figures to gain an idea of your earnings - as the split personal allowance will leave you overpaid.
I would simply ring HMRC and ask they re-apportion the allowance as 200L (lower paid job) and 547L. That should keep you straight and utilise your allowances fully?
and once again thank you Mikeyorks i shall do as you say:j
WELSA0 -
just been having a quick read through. The other day hubby got a cheque for £255 ( the tax code checker said £55) but he used one of those companies and they took 40% but the refund was only for tax year 08/09
so we know there are the other years to check, hubby has got all his p60's but we don't want to use this company again ( his work colleagues used this company and were getting £800 and more back)
question - what is p2 , where does he get it from?
question - what is p800, where does he get it from?
he is employed but which tax office does he contact? local or off the code from the employer?
what does he need to do now, does he need to print off any forms from the HMRC website? or can it all be done by telephone?
sorry for all the questions.
thanks__________________0 -
question - what is p2 , where does he get it from?
question - what is p800, where does he get it from?
he is employed but which tax office does he contact? local or off the code from the employer?
The P2 is a Coding Notice - issued by HMRC. Usually around Feb / Mar preceding the tax year starting the following April. If he's on the basic code most people have (647L) ... then he may not get one. If he has benefits in kind (medical insce / company car etc) then he's more likely to get one.
The P800 is a PAYE reconciliation statement. He will only get one if you ask for a review of a specific year and HMRC find there is an under / overpayment.
Easiest thing is to post the P60 figures for 07/08 & 09/10 on here (pay / tax / Code number) and someone will look at?If you want to test the depth of the water .........don't use both feet !0 -
Hi there everyone, this is my first post. I took early retirement through ill health and receive a private pension from my employer. I am under 60. My tax coding however appears to be incorrect, but is showing my pension as 'earnings' is this because I am under 60?0
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Hi there everyone, this is my first post. I took early retirement through ill health and receive a private pension from my employer. I am under 60. My tax coding however appears to be incorrect, but is showing my pension as 'earnings' is this because I am under 60?
If the private pension is your only taxable income, and you are not claiming any benefits and you are not repaying tax owed from an earlier tax year, then I think you should be on the standard tax code.
For the 2010 - 2011 tax year the standard tax code was 647L
For the 2011 -2012 tax year the standard tax code will be 747L (unless todays budget changes anything)
What tax code are you on and where did you get the tax code from ?
Have you received a P2 Coding Notice from HMRC ? It will tell you why you are on that tax code.
Did you inform HMRC about your change in circumstances, when you took early retirement ?0
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