How to check i paid correct paye tax last year
Discussion
Right guys
I've received my p45 for last year and after doing an online check on a tax calculator have found that i paid about £400 over what i should have done.
I've been with the same company for 3 years and my pay hasnt gone up half way throughthe year.
So how do i double check and make sure that i have overpaid and am due a refund?
I've received my p45 for last year and after doing an online check on a tax calculator have found that i paid about £400 over what i should have done.
I've been with the same company for 3 years and my pay hasnt gone up half way throughthe year.
So how do i double check and make sure that i have overpaid and am due a refund?
Firstly make sure you are including ALL your taxable income and benefits as the only way you could have overpaid would be due to your tax code including benefits or income which you have not actually received or have been overstated. Did you used to have a company car? If you have plugged all your income into the tax calculator and it shows you have overpaid, claim it back!
Eric Mc said:
What was the final tax code myou were issued for tax year 2010/11?
After you left your job, did you commence another one?
Were you in employment at 05/04/2010
Did you receive a P60 for 2010/11?
Sorry, I dont know about my final tax code. I shall have to sift through some paperwork at home to check.After you left your job, did you commence another one?
Were you in employment at 05/04/2010
Did you receive a P60 for 2010/11?
Sorry, I am still in employment and the original post should have read P60 not P45.
I am still with the same company as the last 3 years and yes I did recieve a P60 for last year - which I checked against.
I have no company car either.
Am I right in thinking I should just apply for a refund of overpaid tax and the IR will run a re-calc of what I should have paid and pay me if I am due anything or not pay me if all is fine?
Thanks all
Find out your tax code history.
Tax Codes are the key to how PAYE works. It's hard to advise anyone on whether they paid correct PAYE in any given tax year without knowing what Tax Codes were being applied to their salary in that tax year. Once we know what the tax codes were, we can check to see if they were correct or not.
Your P60 will tell you what tax code the employer was using at 5 April 2011.
If the Code wasn't 647L. you ned to see a detailed breakdown of the code which will be on the tax code notice that was issued to you.
Tax Codes are the key to how PAYE works. It's hard to advise anyone on whether they paid correct PAYE in any given tax year without knowing what Tax Codes were being applied to their salary in that tax year. Once we know what the tax codes were, we can check to see if they were correct or not.
Your P60 will tell you what tax code the employer was using at 5 April 2011.
If the Code wasn't 647L. you ned to see a detailed breakdown of the code which will be on the tax code notice that was issued to you.
Simple, phone 0845 300 0627, make sure you have your employee number and your paye reference number (get both from your accounts department). Not all that much hassle to get through to someone and they should sort you out!
I just did this earlier today as I have been in the wring tax code for a while! Any moneys due from aprill 11 will be refunded by my company in my salary next month, and money due from before that will come in a cheque from the tax people!
I just did this earlier today as I have been in the wring tax code for a while! Any moneys due from aprill 11 will be refunded by my company in my salary next month, and money due from before that will come in a cheque from the tax people!
Gassing Station | Finance | Top of Page | What's New | My Stuff