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Any Tax (PAYE) experts on NSC?



swindonseagull

swindonseagull

Well-known member
Aug 6, 2003
9,264
Swindon, but used to be Manila
This March Tax office gave me a refund of £1500 (approx) due to incorrect tax code....they change the tax code... Now they are saying I underpaid by £1600 !!!
no change to income.. drop me a PM please..

I need an accountant...
 
Last edited:




Official Old Man

Official Old Man

Uckfield Seagull
Aug 27, 2011
8,536
Brighton
Are you self employed or an employee? Did you have just one job in the tax year? Your employer should have given you a form showing your total earnings for year and explaining all tax & NI paid. Your tax code should have been 944 if all is normal. This means you get £9440 free of tax. The rest after this is taxed at 20% presuming you don't earn over £100000
 






thedonkeycentrehalf

thedonkeycentrehalf

Retired
Jul 7, 2003
8,609
swindonseagull said:
This March Tax office gave me a refund of £1500 (approx) due to incorrect tax code....they change the tax code... Now they are saying I underpaid by £1600 !!!
no change to income.. drop me a PM please..

I need an accountant...
Click to expand...

Have you changed job in the last year or so? I had something similar a while ago but luckily it was only a couple of weeks between then sending the check and then wanting money back.
 






upthealbion1970

upthealbion1970

bring on the trumpets....
NSC Patron
Jan 22, 2009
8,865
Woodingdean
When I left work to become a carer (2009) I got my p45 in the post and sent it off in the September to dwp. Two years later (2011) in the October I got a £970 tax rebate for overpaying tax in the previous tax year according to them. They're a strange lot. I'm looking for work and dreading what balls up is waiting for me once I start working.
 


thedonkeycentrehalf

thedonkeycentrehalf

Retired
Jul 7, 2003
8,609
swindonseagull said:
I changed job in July 13 but my salary dropped from approx £40k to £33 K ( less stress) and my RAF pension has stayed the same since 2008..
Click to expand...

I had a similar percentage drop having changed job when this happened to me and also in July of the year. It's as if they forgot that the first part of the year is at the old salary when they calculated the codes and then they realised their mistakes after a short while.
 






seagullsovergrimsby

seagullsovergrimsby

#cpfctinpotclub
Aug 21, 2005
43,690
Crap Town
HMRC said my tax was incorrect and I had to pay a £105 shortfall despite the fact of them being aware my employer paid me 14 times during the tax year. When you are paid every 28 days this will only occur ONCE every twenty odd years and the 56 week rule should have been applied so enough tax was deducted over 14 paydays and NOT the normal 13. HMRC put the blame at the door of my employer and my employer put the blame at the door of HMRC. Despite thousands of appeals being made HMRC told everyone of us to pay the shortfall instead of clawing it back from the employer who according to our union "cocked it up big time"
 






Weststander

Weststander

Well-known member
NSC Patron
Aug 25, 2011
63,903
Withdean area
From ALL your P60's and P45's for 2013/14, as well as any P11D's for taxable benefits, simply do the following:

Add the gross pays and benefits.

Deduct £9,445, which should be tax free as another poster said. Multiply the balance by 20% which gives your 2013/14 liability.

Then from that, deduct the tax suffered on the P60's, but then going the other way add the £1,500 received (rightly or wrongly) from HMRC.

The result is what you owe HMRC.



This can be complicated by other income eg dividends, buy to let income, and did you have any residual over or under paid tax from previous years going into 2013/14.
 


swindonseagull

swindonseagull

Well-known member
Aug 6, 2003
9,264
Swindon, but used to be Manila
Weststander said:
From ALL your P60's and P45's for 2013/14, as well as any P11D's for taxable benefits, simply do the following:

Add the gross pays and benefits.

Deduct £9,445, which should be tax free as another poster said. Multiply the balance by 20% which gives your 2013/14 liability.

Then from that, deduct the tax suffered on the P60's, but then going the other way add the £1,500 received (rightly or wrongly) from HMRC.

The result is what you owe HMRC.



This can be complicated by other income eg dividends, buy to let income, and did you have any residual over or under paid tax from previous years going into 2013/14.
Click to expand...

I changed jobs on July 22nd 2013 surely between April 1st 2013 and July 22nd 2013 I cant have amassed a tax bill of £1500 (if they are saying they put my tax code correct in March 14?
 


T

Tight shorts

Active member
Dec 29, 2004
311
Sussex
Welcome to p.m me. I am a personal tax adviser in Brighton. Don't mind having a quick look at it for you.
 






Bry Nylon

Bry Nylon

Test your smoke alarm
Helpful Moderator
Jul 21, 2003
19,841
Playing snooker
Weststander said:
From ALL your P60's and P45's for 2013/14, as well as any P11D's for taxable benefits, simply do the following:

Add the gross pays and benefits.

Deduct £9,445, which should be tax free as another poster said. Multiply the balance by 20% which gives your 2013/14 liability.

Then from that, deduct the tax suffered on the P60's, but then going the other way add the £1,500 received (rightly or wrongly) from HMRC.

The result is what you owe HMRC.
Click to expand...

:mad: :mad: :mad:

:shootself
 


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