Am I paying too much tax.

Solaris · 25 Nov 2007 at 13:45

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?

Solaris · 25 Nov 2007 at 13:51

ahh..ok...

Puts my mind at rest a little. How much am I meant to be paid a year tax free?

Solaris · 25 Nov 2007 at 13:53

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 · 25 Nov 2007 at 13:58

Ok. I was expecting it to say:

Gross Pay To Date: 13773.98
Taxable Pay To Date: 8548.98

Solaris · 25 Nov 2007 at 14:07

ok.

So say I got paid: 2398.60 a month.
And then paid: 409.56 tax. and 216.00 NI
And came away with: 1783.79

Thats right yeah.

Solaris · 25 Nov 2007 at 14:13

God damn the goverment really do fleece us dont they. Wonder how my mates get away with paying as much.