Am I paying too much tax.

Solaris

Solaris

Solaris

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Joined
31 Oct 2006
Posts
2,004
All my mates are telling me that I pay far more tax than them. Is there any way to get this checked?

I was looking through my playslip and my tax code is 522L.

I was poking around the web and found this page: http://www.hmrc.gov.uk/employers/rates_and_limits.htm

Which states: The emergency tax code is 522L.

Now I'm paraniod and really confused. Any quick and easy way to figure out how much income tax I should be paying?
 
5220?

My pay slip currently says:

Gross Pay To Date: 13773.98
Taxable Pay To Date: 13773.98

Maybe they neglected to calculate my tax free allowance?
 
Solaris said:
5220?

My pay slip currently says:

Gross Pay To Date: 13773.98
Taxable Pay To Date: 13773.98

Maybe they neglected to calculate my tax free allowance?
Click to expand...

No, all of your earnings are taxable (ignoring pensions and the like)
The allowance just means that the first £5,225 of your earnings are taxable at 0%
 
Solaris said:
5220?

My pay slip currently says:

Gross Pay To Date: 13773.98
Taxable Pay To Date: 13773.98

Maybe they neglected to calculate my tax free allowance?
Click to expand...
No thats right. It should be identical to what you've been paid. It's all taxable pay. But you still get your first 5220 free. Just spread over the year.
 
Moses99p said:
It seems that job, that I continued for ages, was being taxed under a "BR" code. After 3 seconds of googling it seems they just ignore any tax free thresholds and rape me for tax under that code. So I guess it's likely they owe me a bunch of money, yeah?
Click to expand...

Yep find your p45 and phone up your tax office to claim it back. They'll do all the paperwork, or at least they use to.
 
Moses99p said:
DAMN IT!! Guess I'm sailing towards the land of fail on the failboat xD

Well I was...

I had one job up until the middle of December last year but quit, I'd started a second job in late August of the same year and only quit from there a couple of months back.

It seems that job, that I continued for ages, was being taxed under a "BR" code. After 3 seconds of googling it seems they just ignore any tax free thresholds and rape me for tax under that code. So I guess it's likely they owe me a bunch of money, yeah?
Click to expand...

If it's a second job at the same time as the first then basic rate is correct.
You only get the allowance once, so if you were earning over £5,225 you'd be paying tax at the marginal rate on your second job.
 
Haircut said:
If it's a second job at the same time as the first then basic rate is correct.
You only get the allowance once, so if you were earning over £5,225 you'd be paying tax at the marginal rate on your second job.
Click to expand...

Although the tax code on the second job should have been changed back once he quit the job in December else he wouldn't have been making use of any of his allowances after that if he stayed on BR from mid-December to when he quit this year.
 
I see you're point and I felt that way too - until I reached it myself. If you're 'just over' the threshold it's soul-destroying to see 50% of your earnings disappear to HMG to squander on quangos and pointless wars...
 
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