27-10-2014, 10:51 PM
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.
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.