How can I tell if I've paid the right tax?
Discussion
I've just received my last paycheque from my company - some of which is meant to be taxed as usual and some of it is meant to be tax free (redundancy payment)
Is there a way I can check whether the tax free bit really was tax free? I've paid slightly more in tax than I was expecting to but it's hard to check as a layperson.
Is there a way I can check whether the tax free bit really was tax free? I've paid slightly more in tax than I was expecting to but it's hard to check as a layperson.
The payslip should show a cumulative amount of tax paid in the year on it - if so, Google for a 2014 tax calculator and enter the gross amount you've received in salary for the year, not including the amount you were expecting as redundancy.
The tax calculator and the amounts deducted on the payslip should be almost the same.
Otherwise if the online calculator gives a lower value than your payslip suspect they have deducted more tax than they should?
The tax calculator and the amounts deducted on the payslip should be almost the same.
Otherwise if the online calculator gives a lower value than your payslip suspect they have deducted more tax than they should?
Edited by essayer on Wednesday 25th June 09:24
Sorry, yes, David confirmed that they had got the sums correct. This was the end result of a long and unpleasant redundancy, during which myself and my (now previous) employer were tripped up over some of my contract details. This is my second redundancy experience in the last 2 years and the previous one was a walk in the park compared to this!
Was worth a double-check but seems they managed this bit correctly - painful. Nice to close the chapter though, onwards and upwards, and good of David to help.
Was worth a double-check but seems they managed this bit correctly - painful. Nice to close the chapter though, onwards and upwards, and good of David to help.
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