rate of tax

xirokx said:
P.S. taking into consideration the previous post where the poster suggests site 1 is calcuting incorrectly, then each year does the level of tax you pay decrease or increase? surely it increases thus leaving you will a little less take home? ok that doesnt take into account your annual wage increase etc...

I just need to know what I am owed from NOV 07 so I can present my dilemma to my M.D.
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The Tax/NI you pay varies each year depending on the personal allowance and tax rates. On £22,000 a year you'll notice your tax/ni drop this year meaning you get a higher net wage. This is due to the change in the income tax rates.

It might be HMRC and not your MD you need to speak to. If you've been taxed too much then speak to HMRC
 
I had a different job before nov 07 but my tax code was also 522L...

so for this new job since NOV 07 would you a) agree I am not being paid the correct amount each month? and b) therefore I am owed some money? and c) my wage should increase from £1356 to something, that I dont know what??

522L tax code was correct for last tax year, this year (from 6th April 08) it'll probably be 543L
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- how does that affect my income if Im on 22k?
 
each month since NOV 07 based on 522L I am paying:-

a) NI 147.84
b) tax 272.73

thats based on 522L is that correct?
 
xirokx said:
I had a different job before nov 07 but my tax code was also 522L...

so for this new job since NOV 07 would you a) agree I am not being paid the correct amount each month? and b) therefore I am owed some money? and c) my wage should increase from £1356 to something, that I dont know what??

- how does that affect my income if Im on 22k?
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a) not necessarily. it depends on your total tax/ni for the whole year and total gross salary for the year. What does your P60 say for gross salary, tax, ni? and any other deductions?

b) depends on the above.

c) it probably will increase, yes, to around £1,405 per month.

The change from 522L to 543L means your personal allowance has gone up from £5,225 to £5,435, therefore the income you're assessed on has gone down.
 
a) not necessarily. it depends on your total tax/ni for the whole year and total gross salary for the year. What does your P60 say for gross salary, tax, ni? and any other deductions?
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my p60 states:-

a) total pay for year = £17434.10
b) tax deducted = 2417.38

so depending on the above if I am owed £££ is that from my boss or HMRC?/

thanks for your help thus far really appreciate it..
 
xirokx said:
my p60 states:-

a) total pay for year = £17434.10
b) tax deducted = 2417.38

so depending on the above if I am owed £££ is that from my boss or HMRC?/

thanks for your help thus far really appreciate it..
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Based on that info you've been taxed correctly.

It you were owed tax it would have been from HMRC.
 
cool

so therefore on April 30th when I get paid should it read £1405??

how does changing job affect your salary apart from the obvious increase / decrease.. but what does it do to tax?
 
have I been paid correctly by my employer since NOV 07 though?

p.s. how do you know this? are you an accountant?
 
Yep ~£1,405... maybe a few pence different.

If changing jobs changes your pay then it will increae or decrease the tax. PAYE is calculated on a cumulative basis over the year, which is why some months can look like you've been taxed too much, or not enough. Usually over the year it equals the right amount.
 
xirokx said:
have I been paid correctly by my employer since NOV 07 though?

p.s. how do you know this? are you an accountant?
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If your payslips are showing a gross salary of £1,833.33 then you've paid paid the correct amount.

Yeah I'm an accountant.. well still training - 3 exams to go!
 
since nov 07 my monthly payments before tax has been £1777.02 my tax and Ni deductions have been a total of £420.57 since NOV 07 therefore my take home pay was £1356.45 -

if I am earning 22k per annum shouldnt my monthly payments before tax be £1833.33

I think since NOV 07 I have been paid against £21,500 and not £22,000 what do you think?

which means I have been under paid from my boss?

what you reckon?

cool , thanks for your help, im counting myself lucky :)
 
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Well if you're contracted to £22,000 p.a. then you haven't been paid enough unless i'm missing something.
£1,777.02 a month is £21,324.24 a year which is an odd salary..

If all your payslips are showing £1,777.02 per month then i'd query it
 
Mikey said:
MMmm arse - how much I am going to loose a month to this thing :(
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If you're in the basic rate band - £62.33/month and if you're higher rate - £124.66/month

(based on the 1.8 VVT-i T2)
 
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