Raped by the tax man!!!

[Dazza1]

This week in my wages we got paid £1300 lump sum. So when I opened my wage slip I felt sick by the amount of tax and national insurance I paid. So with the £1300 plus my £650 weeks wages I paid £520 tax and £102 national insurance totally disgusting how they have done that out of they £1300 lump sum it works out that I cleared £850 out of it

 

[maggi200]

What Does the tax code say daz? Wanna pm me and if there's anything actually wrong. Seems you paid higher rate tax off the top of my head (40% over ~£35k pa (I dont work in tax but deal with it historically not presently))

In which case it will level out if that wasn't a normal payslip. Basically it looks like you got £1300 first week which over 52 weeks is £68k odd. It should work itself out next time with the right tax code but without more info I can't comment further

 

[Araf]

What Does the tax code say daz? Wanna pm me and if there's anything actually wrong. Seems you paid higher rate tax off the top of my head (40% over ~£35k pa (I dont work in tax but deal with it historically not presently))

In which case it will level out if that wasn't a normal payslip. Basically it looks like you got £1300 first week which over 52 weeks is £68k odd. It should work itself out next time with the right tax code but without more info I can't comment further

I don't think you are right. The stopages are for the full £1950, so I think they are correct.

 

[maggi200]

Perhaps. But I don't know any more info. It could be, it could also be incorrect. I don't work in tax so when a client asks me i work out tax free allowances up to higher rate based on a basic salary and dividends usually. Anything else goes to the tax boys :lol: I've not got my tax tables author me to look up wgat the current rates etc are got personal tax either and it's ages since ive looked at any

 

[kenny]

I work in HR so can provide some guidance (I think!).

Have u received any additional payments you don't usually receive per period/month (car allowances, bonus)?

Do you get paid per period (i.e 4 weekly) or per month?

If paid per period (4 weekly) has this year brought an extension to the number of tax weeks before the end of tax year 2011/2012 (I.e: does your most recent payslip read tax week 53, 54 or 56?)- which means you have been taxed in isolation of the latest 4 week period disregarding your tax paid in previous periods throughout the tax year, or in other words on a 1 week/1 month basis and not on a cumulative basis (in a nutshell your tax code may have changed for this 4 week period only leading to you paying more tax then normal as it is not on a cumulative basis).

Either way if you think you have paid too much tax, all you need to do is wait for your end of year P60 to be issued (legally your employer has to issue by 31st May), contact HMRC with this information and an adjustment will be made end of tax year.

 

[Penn]

Either way if you think you have paid too much tax, all you need to do is wait for your end of year P60 to be issued (legally your employer has to issue by 31st May), contact HMRC with this information and an adjustment will be made end of tax year.

Do this, see what the figures are on your P60.

It's worth checking your tax code for sanity too as that will be on your payslip.