Tax rebate question!

Teledude · 19 Feb 2007 at 13:44

Just a quickie...

Been paying tax under a BR code for the last 22 weeks so no personal allowance

Just been recoded to 503L which gives me £97 per week tax free - does this means I should be getting 22 x 97 back through my PAYE system shortly?!

cymatty · 19 Feb 2007 at 13:46

Teledude said:
Just a quickie...

Been paying tax under a BR code for the last 22 weeks so no personal allowance Just been recoded to 503L which gives me £97 per week tax free - does this means I should be getting 22 x 97 back through my PAYE system shortly?!

You wish.

And the answer is no.

Teledude · 19 Feb 2007 at 13:48

cymatty said:
You wish.

And the answer is no.

How so?! Ive been overpaying so surely it should be mine? :mad:

cymatty · 19 Feb 2007 at 13:50

Teledude said:
How so?! Ive been overpaying so surely it should be mine?

You will recieve iiirc the amount of extra tax you have paid on your wage whatever it may be. So for example if you payed 40% tax on your tax free allowance you will recieve

(22*97)*0.4

Teledude · 19 Feb 2007 at 13:51

Ah gotcha - still better than nothing

ste_bla · 19 Feb 2007 at 13:51

cymatty said:
You will recieve iiirc the amount of extra tax you have paid on your wage whatever it may be. So for example if you payed 40% tax on your tax free allowance you will recieve

(22*97)*0.4

Unless he's only worked for 22 weeks over the whle year and then he'd get more back

cymatty · 19 Feb 2007 at 13:52

ste_bla said:
Unless he's only worked for 22 weeks over the whle year and then he'd get more back

True.

BennyC · 19 Feb 2007 at 13:52

I was on an emergency tax code when i started my weekend job. My First 2 pay cheques I was taxed around £70 each, I got a tax rebate with my 3rd pay cheque which totalled the amount of tax i had paid. As I am under 18 and a student I shouldnt pay tax. You'l get most back, but im too lazy to figure out how much

ste_bla · 19 Feb 2007 at 13:56

Benny06 said:
I was on an emergency tax code when i started my weekend job. My First 2 pay cheques I was taxed around £70 each, I got a tax rebate with my 3rd pay cheque which totalled the amount of tax i had paid. As I am under 18 and a student I shouldnt pay tax. You'l get most back, but im too lazy to figure out how much

Err NO.

Students pay just as much tax (as in if you earn over x you pay %) it just seems less as your normally under the tax threshold and so get tax nil or very little

Emily1234 · 26 Apr 2007 at 02:24

Do you get tax rebates if your not being emergency taxed?
Ive been working and getting taxed at my current job since october last year. Does that mean I'm entitled to a rebate? I paid emergency tax 2yrs ago and got almost a grand back. But as I said, I'm not paying emergency tax anymore. I looked on my last payslip for the last tex year (31st March 2007) and it says: Tax code: 503L. Grosspay to date: £4599.65. Tax paid to date: £475.44.

Yes I am on minimum wage..

So what does all of this mean?

Emily

EDIT: I checked out this a tax rebate calculator on the net and It said I could be owed £475..

Beansprout · 26 Apr 2007 at 02:46

Benny06 said:
As I am... a student I shouldnt pay tax

I wish

MajorMaccas · 26 Apr 2007 at 02:52

Tax code BR is base rate (aka Bloody Ripoff), which is an emergency tax code of 40%. A collegue of mine got this when he worked a few weeks over christmas, but got a rebate on his 3rd or 4th payslip, but he was fuming for the first 2! :eek:

csmager · 26 Apr 2007 at 08:26

Cyberstrike2027 said:
Tax code BR is base rate (aka Bloody Ripoff), which is an emergency tax code of 40%. A collegue of mine got this when he worked a few weeks over christmas, but got a rebate on his 3rd or 4th payslip, but he was fuming for the first 2!

It's 22%. D0 is 40%.

Usually gets applied as an emergency code, or if it's a second job.

csmager · 26 Apr 2007 at 08:28

Emily1234 said:
Do you get tax rebates if your not being emergency taxed?
Ive been working and getting taxed at my current job since october last year. Does that mean I'm entitled to a rebate? I paid emergency tax 2yrs ago and got almost a grand back. But as I said, I'm not paying emergency tax anymore. I looked on my last payslip for the last tex year (31st March 2007) and it says: Tax code: 503L. Grosspay to date: £4599.65. Tax paid to date: £475.44.

EDIT: I checked out this a tax rebate calculator on the net and It said I could be owed £475..

You'd have to qualify 'tax paid'. At that Gross Pay, you shouldn't owe any Tax. If you've been paid over the ET in a week/month (£97/£420 last year), you might have owed National Insurance - which could be what that £475 is. In which case, you're probably owed nothing.

big_white_dog84 · 26 Apr 2007 at 10:16

Benny06 said:
As I am under 18 and a student I shouldnt pay tax.

Wrong.

Tax code BR is base rate (aka Bloody Ripoff), which is an emergency tax code of 40%

Wrong

The level of ignorance about taxation always amazes me. A significant portion of our wages get taken away from us every month and most people haven't got a clue about whether they are paying too little or too much.
I'll bet more people would notice they were paying £1.00 too much for their internet connection than would notice they were paying £100 too much on tax.

Rotty · 26 Apr 2007 at 10:31

you should get 22% of 22x£97 back

me227 · 26 Apr 2007 at 11:17

So if I get my tax code changed for next months pay cheque then i'll automatically be refunded the tax paid? As i'm on BR atm as well.

Also I was on BR for my xmas temp job can I fill in an R40 tax rebate form and collect this back as well?

Rotty · 26 Apr 2007 at 11:23

we're into a new tax year so you would be best to fill the forms in