anyone good with tax on here?

[steveoooo1]

Msg me and I will explain

TIA

Regards

[Creditshampoo]

If you explain here you'll get replies

[Postie45]

if youre trying to remain anonymous, maybe outline part of the problem that wouldnt necessarily identify yourself and maybe someone will PM you

[terry2972]

First 150 is tax free then next 50 is taxed at 12% for national insurance then above 200 it's 32% which is 12% ni and 20% basic rate tax

[steveoooo1]

sorry peeps. my tax code has now been raised to 1090l
which is made up of flat rate from a previous job and the 120 for our uniform cleaning etc.

background.. when I started working for royal mail on the 19th oct I was put on tax code ot/1 so paid roughly £40 ish too much tax. called ir who said that I'm due the 1090l etc. this weeks pay with the new code is lower than last weeks with the 1060l and my basic was roughly the same.

also no sign of the £40 ish I am owed...


I must add that I have worked for a different company in this tax yr and earn't over £8000 and with with my rm pay so far its around £10800

Hopefully someone may know what I mean and give me some advice as what to do.

Cheers

[gazzathegreat8]

It is difficult to explain, PAYE system is quite brilliant in its simplicity , however very confusing when things go wrong or out of the ordinary. The 2015/16 personal allowance is 10605 ie code 1060L, so where your code 1090L comes from is a mystery.

The answer I think lies in last weeks pay slip which if the tax code was used on a cumulative basis should have resulted in a refund of any tax overpaid, sorry if not much help but without seeing your payslip and coding notice it is very difficult.

[steveoooo1]

It is difficult to explain, PAYE system is quite brilliant in its simplicity , however very confusing when things go wrong or out of the ordinary. The 2015/16 personal allowance is 10605 ie code 1060L, so where your code 1090L comes from is a mystery.

The answer I think lies in last weeks pay slip which if the tax code was used on a cumulative basis should have resulted in a refund of any tax overpaid, sorry if not much help but without seeing your payslip and coding notice it is very difficult.

hi the 1090l comes from the uniform allowance and 3 yrs of backdated flat rate expenses. I may have to call them.

[RobertT]

I’m no expert on tax codes, but my understanding is:

The normal personal tax allowance for this tax year is £10,600 which means a tax code of 1060L, but RM employees should get an increase of £120 on top of that to allow for the uniform cleaning allowance and so a code of 1072L. That means we pay £24 per year less in tax.

An OT tax code means that either you have already used up the personal allowance this year or your employer doesn’t know the correct code to use. More info here: https://www.gov.uk/tax-codes/letters-in ... -they-mean" onclick="window.open(this.href);return false;

Because you were originally on an OT code and are now on 1090L would suggest that if you had been put on a ‘normal code’ you would have paid too much tax during the tax year as a whole. Hence the 1090L code means that between now and the end of the tax year you will be paying less tax than you would’ve done and things will be evened out by April next year.

You may find that the £40 which is owed is effectively being paid back to you on a weekly basis rather than having it back in one go due to your lower tax liability.

Assuming your still in the job after next April, your tax code should revert to the normal one then. Although also bare in mind that's it's due to increase by £200 for the 2016/17 tax year.

[bustedflush]

sorry peeps. my tax code has now been raised to 1090l
which is made up of flat rate from a previous job and the 120 for our uniform cleaning etc.

background.. when I started working for royal mail on the 19th oct I was put on tax code ot/1 so paid roughly £40 ish too much tax. called ir who said that I'm due the 1090l etc. this weeks pay with the new code is lower than last weeks with the 1060l and my basic was roughly the same.

also no sign of the £40 ish I am owed...


I must add that I have worked for a different company in this tax yr and earn't over £8000 and with with my rm pay so far its around £10800

Hopefully someone may know what I mean and give me some advice as what to do.

Cheers

Therein lies the issue. If your previous p45 was filled in correctly and sent to IR via RM who you should have given it to then there is always a delay before it settles out. Now RM have you on the right code it doesn't mean IR have collated the 2 separate employments therefore any rebate due may not have come through RM payroll yet. If there has been any issue unresolved this financial year, IR will issue you with a cheque refund after the close of the 2015-16 financial year automatically when all your final 2 jobs' earnings are tax-tabled.
So if it doesn't come through payroll (which it usually should with the correct p45 procedures by you and your old employer) you can wait until next year or else ring them up in Wales. They can correct it this year if it doesn't happen naturally.