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+--- Thread: Tax Rebate? (/showthread.php?tid=27468)
Tax Rebate? - Niall - 27-10-2014
Need some help here all!
Basically, over the past two years i was underpaying tax which turned out i owed them £1900 extra. They kindly decided they would take this from my tax code over the 2014/2015 year leaving me with a tax code of 80L this year. This was based on the £1900 divided over 12 months based on my basic wage. We are now in the 7th month of this tax year and I've already exceeded my basic wage and technically paid off the £1900 i owe them.
My question. Will my tax code change next month up to what it should be (600L ish) or will i continue paying at the rate of 80L till next April and if so, will i get a nice big cheque for the extra money i have paid them?
Cheers all
RE: Tax Rebate? - Seb_Ryan - 27-10-2014
You could ring up to check if its right? If they change it any money they owe will be paid in your next months wage. Something Similar happened to me, but i was down as a 2nd income and it wasnt lol
RE: Tax Rebate? - Niall - 27-10-2014
Phone them? Have you ever tried speaking to HMRC on the phone? Id rather cut off my own testicles and feed them to a antelope than phone HMRC
RE: Tax Rebate? - Jimbo - 27-10-2014
Tbf niall i phoned them up and sorted my tax code out, it wasnt that bad. Just.phone them at a time most people will be at work
RE: Tax Rebate? - toseland - 27-10-2014
(27-10-2014, 08:34 PM)Niall Wrote: Phone them? Have you ever tried speaking to HMRC on the phone? Id rather cut off my own testicles and feed them to a antelope than phone HMRC
i have, was quite streamlined tbh..
sorted my refund out quickly..
RE: Tax Rebate? - Dum-Dum - 27-10-2014
from my experience the HMRC are usually very good on the phone.
No youll need to keep paying for the whole year as they are taking it off the bottom not off the top. They are taking it from you paying tax on your c.£10k personal allowance which you usually wouldnt pay income tax on.
Your tax code is 80L for 1900 quid repayment. Your usually allowed £10k tax free and 80l is only £800 before you pay so they are saying you need the tax on £9200 which is 20% of that which is surprisingly about £1900.
That is being taken monthly (well a 12th of it is) so you will need to pay for the whole year.
You cant be paying it off the top as your paying tax on that anyway even if you've started being a higher rate (40%) tax payer this year which IIRC you arent.
Tax Rebate? - Razorback_Rob - 27-10-2014
One thing I've found whenever I've making changes for employees at where I work o always press the payment line bit and then tell them I want to change the tax code or ask questions I always find I get put straight through to someone rather than wait hours for an advisor!
RE: Tax Rebate? - Eeyore - 28-10-2014
ive underpaid by £1700 or something last year. So now im paying it back 2014/15 like yourself...