747L CUM?

[mahrm1]

To get tax back does the tax code need to be 747L CUM?

[kezz]

747l cum - is a clumative tax code, it is the proper code as in you can earn about 109 a week tax free then pay tax of 20% on everything above 109 - the cum bit means it will take into account everything you have earnt so far in this tax year so if you have earnt 0 thus far you can earn 7475 divided by the number of weeks left in this tax year before paying tax - example if 20 weeks are left 7475 divided by 20 = 373.75 which means you can earn 373.75 each week before paying tax.

Hope that helps

[post watcher]

how do u claim u tax back from these clowns?

[jonny_nesbitt]

Contact the tax office on 08453667865 you should have a paye ref on your payslip aswell, Think its on the angard website aswell.

[mahrm1]

On my payslip it says next to tax code - 747L 1 what does the 1 mean?

[jerseyspice]

On my payslip it says next to tax code - 747L 1 what does the 1 mean?

i have a 1 on mine so it means that whilst you are paying tax, it will be a set amount each week not a cumulative amount - confused? Well when you receive your P45 from Angard, the next time you work and hand in your P45, IF you've not reached your earnings limit of £7475, then some of or all of your tax will be adjusted / refunded.
This is just a basic example because i have no idea of your situation student, parent etc etc.

Recall the end of the tax year is April 5th 2012.

[mahrm1]

Is it not possible to get all the tax back when angard give us a p45?

[jonny_nesbitt]

If you get a p45 its not possible to get a refund straight away unless you shouldn't pay tax I.e are a student. Otherwise you can apply for a refund at the start of the new tax year 7th april.

[jerseyspice]

Is it not possible to get all the tax back when angard give us a p45?

tax is a very difficult subject and as i say, it depends on your circumstances and also, I used to work in Payroll but am not 100% on payroll law now.
if you're a student then chances are you will get all tax paid back. those who haven't earned £7475 yet this year will get all of their tax back. If a person has earned £7400 this year then they are entitled to a further £75 free of tax then they will start paying tax and not getting refunds.

as jonny_nesbitt said, call the tax office - only they can advise on individual circumstances.