Am I paying too much tax.
- Thread starter Solaris
- Start date
Huh?
What I'm trying to point out is, why pay tax and complain, but never claim anything back from the state when you're entitled to?
Yup, know what you mean...
No you don't, you go from needing to save ~27.5% to saving ~41%, still a large jump but if you know in advance you'll go over and just save ~35% from the start you'll be fine (you can get to around £100k before needing to up this figure), you'll also have a nice bit of money saved which you can blow on something nice.
I find it's just better not to spend all your money anyway
If you're earning a decent amount just save 70% and get some savings 
Mick.
I'm on the 522L tax code as well, but am confused as to why I'm paying so little tax...in fact, I'm worried I'll end up coughing it all back up.
IIRC you only got a job fairly recently?
If so, that will mean you will pay less tax this tax year.
e.g. The limit is £5,225 for the full year, so you could get a job earning twice that 6 months into the tax year and still pay no tax (as your total earnings for that tax year would still just be that of the limit)
shed load? not really.