Tax - TSR guide and questions thread

Original post by Illusionary

It sounds like you've done what's needed with HMRC... have you got a copy of the coding notice that you received from HMRC? Take this with you when raising it with your employer's payroll and ask for a clear explanation of why they can't make the updates needed, if they're still not able to.

What tax code are you currently on/what do you think that it should be?

Yes, somewhere but back at my flat in Newcastle. As far as I know, there's nobody I can go and see about this in person, other than my manager who has been less than helpful. We don't have a payroll department, just a phone line to contact them on via head office. I don't understand what could possibly be taking so long to sort it out, apparently all the documents and codes are sent electronically.

The tax code on my pay slips is 123T, whenever I've talked to anyone at HMRC they always ask me if I have more than one job, which I don't and I haven't worked anywhere else apart from my current job since 2009, so I really don't know what's going on with that or why I was on it in the first place. The tax code I got told I should be on is 840L, iirc.

Reply 1502

OP

Original post by Sakura-Chan

Yes, somewhere but back at my flat in Newcastle. As far as I know, there's nobody I can go and see about this in person, other than my manager who has been less than helpful. We don't have a payroll department, just a phone line to contact them on via head office. I don't understand what could possibly be taking so long to sort it out, apparently all the documents and codes are sent electronically.

The tax code on my pay slips is 123T, whenever I've talked to anyone at HMRC they always ask me if I have more than one job, which I don't and I haven't worked anywhere else apart from my current job since 2009, so I really don't know what's going on with that or why I was on it in the first place. The tax code I got told I should be on is 840L, iirc.

The standard tax code is currently "810L"... it sounds like it just needs to be a case of hassling your employer/manager if HMRC also think that's what it should be. :frown:

Reply 1503

Sakura-Chan

Original post by Illusionary

The standard tax code is currently "810L"... it sounds like it just needs to be a case of hassling your employer/manager if HMRC also think that's what it should be. :frown:

I have been, but both sides are saying the problem isn't on their end, and like I said before, the person/people I spoke to at payroll got really stroppy and aggressive with me when I told them that HMRC said that they are the ones that the issue is with. I'm sick to death of being told to call back on the 20th of next month to see if they've received the new code. Surely there must be another way to sort it out? :puppyeyes:

Also, in situations like this, do you know if I would I be able to get the tax paid back to me fairly soon or do I have to wait until the end of the year? The whole thing is absolutely ridiculous :mad:

Reply 1504

Accountants

Hello
your tax code indicates a basic personal allowance and is the most common code.

Reply 1505

Ruin.

Hey

I received a letter today from HMRC saying that I have overpaid tax. It says that they've sent the amount separately which I presume I'll get it soon in a cheque or something, but I've noticed my tax code is wrong.

I've only realised this now. :facepalm2:

I'm due to start on a summer job soon and they require a pay slip and other documents, so they can give me a tax code and put me on payroll etc in a week.

Now, on my most recent payslip, I'm on tax code 0T, which is wrong. I also don't have a P45 to give to them (I've either lost it or wasn't given one :s-smilie:

).

How do I get the correct tax code? should I just let my new employers put me on 0T and call HMRC, or should I call HRMC immediately.

Is there any chance that because HRMC have realised I've overpaid, they have fixed it by themselves and changed the records?

Thanks.

Reply 1506

OP

Original post by Sakura-Chan

I have been, but both sides are saying the problem isn't on their end, and like I said before, the person/people I spoke to at payroll got really stroppy and aggressive with me when I told them that HMRC said that they are the ones that the issue is with. I'm sick to death of being told to call back on the 20th of next month to see if they've received the new code. Surely there must be another way to sort it out? :puppyeyes:

Also, in situations like this, do you know if I would I be able to get the tax paid back to me fairly soon or do I have to wait until the end of the year? The whole thing is absolutely ridiculous :mad:

Ultimately, your employer runs their payroll system/PAYE returns so they'll need to sort it at some level - whether that comes from discussing with you or with HMRC. As some reassurance, though, once your tax code is updated you should receive a refund of any overpayment of Income Tax automatically via the payroll system.

Original post by Ruin.

Hey

I received a letter today from HMRC saying that I have overpaid tax. It says that they've sent the amount separately which I presume I'll get it soon in a cheque or something, but I've noticed my tax code is wrong.

I've only realised this now. :facepalm2:

I'm due to start on a summer job soon and they require a pay slip and other documents, so they can give me a tax code and put me on payroll etc in a week.

Now, on my most recent payslip, I'm on tax code 0T, which is wrong. I also don't have a P45 to give to them (I've either lost it or wasn't given one :s-smilie:

).

How do I get the correct tax code? should I just let my new employers put me on 0T and call HMRC, or should I call HRMC immediately.

Is there any chance that because HRMC have realised I've overpaid, they have fixed it by themselves and changed the records?

Thanks.

I'm not sure why they'd require a payslip... that's not at all usual. Completing a form P46 should give the information that they need if you don't have a form P45 from a previous job in this tax year.

http://www.hmrc.gov.uk/forms/p46.pdf

Reply 1507

OP

Original post by prash_s90

hi my current tax code for my contracted job is W1810L

is that emergency tax???

Can someone explain what this means

Quite possibly, but many people have the wrong idea about 'emergency tax' :tongue:

The 'emergency tax' code is actually the standard tax code, currently "810L", and this doesn't necessarily indicate a problem.

However, the "W1" prefix does present an issue as it indicates a 'non-cumulative' tax code, with each week's pay being treated in isolation rather than across the year as a whole - this can lead to overpayment of Income Tax. Speak to your employer and/or complete a form P46 for them to get that resolved. :smile:

Reply 1508

prash_s90

16

Original post by Illusionary

Quite possibly, but many people have the wrong idea about 'emergency tax' :tongue:

The 'emergency tax' code is actually the standard tax code, currently "810L", and this doesn't necessarily indicate a problem.

However, the "W1" prefix does present an issue as it indicates a 'non-cumulative' tax code, with each week's pay being treated in isolation rather than across the year as a whole - this can lead to overpayment of Income Tax. Speak to your employer and/or complete a form P46 for them to get that resolved. :smile:

i am getting paid weekly and it is a temporary posiition...i have filled the p46 ande handed it to my agency already. do you think this could be the correct tax code in that case :s-smilie:

thanks !!

Reply 1509

OP

Original post by prash_s90

i am getting paid weekly and it is a temporary posiition...i have filled the p46 ande handed it to my agency already. do you think this could be the correct tax code in that case :s-smilie:

thanks !!

Unlikely. Have a read of this page: http://www.hmrc.gov.uk/incometax/emergency-code.htm#4

I'd suggest checking with your employer whether your form P46 has been processed yet; possibly it hasn't been.

Reply 1510

Skill

10

I just received my P60 the other week.

Total tax -

Income tax (written as 'PAYE' in the payslip) - £212.20
NI EE's (which I guess is National Insurance) - £94.67
Total - £306.87

My total income for the year was just under £4200.

I was initially on tax code 'OT' for a few weeks till it changed to '747L' and from the new tax year in April of this year it changed to '810L'.

I'm guessing I can only reclaim the £212.20 and not the total of £306.87? Does everyone have to pay NI EE's?

(edited 11 years ago)

Reply 1511

Mess.

Left my old job 6 weeks ago, still no P45. I know I can fill in whatever the other form is but one of the partners in work seems intent on getting the P45.

Looks like I am going to be kicking off over that again :rolleyes:

This was posted from The Student Room's iPhone/iPad App

Reply 1512

OP

Original post by Skill

I just received my P60 the other week.

Total tax -

Income tax (written as 'PAYE' in the payslip) - £212.20
NI EE's (which I guess is National Insurance) - £94.67
Total - £306.87

My total income for the year was just under £4200.

I was initially on tax code 'OT' for a few weeks till it changed to '747L' and from the new tax year in April of this year it changed to '810L'.

I'm guessing I can only reclaim the £212.20 and not the total of £306.87? Does everyone have to pay NI EE's?

Correct, for both questions :yy:

The easiest route is likely going to be to contact your tax office in the first instance by telephone to request the refund. NI contributions for employees are calculated for each pay period in isolation rather than with reference to an annual threshold.

Reply 1513

OP

Original post by Mess.

Left my old job 6 weeks ago, still no P45. I know I can fill in whatever the other form is but one of the partners in work seems intent on getting the P45.

Looks like I am going to be kicking off over that again :rolleyes:

This was posted from The Student Room's iPhone/iPad App

You're entitled to receive one, so press for it as strongly as you can.

Reply 1514

Funky_Climber

9

I am going to university in September and am currently trying to figure out if it is more financially viable to pay for myself or take out the loans. I am a graduate so I already have a loan on the old scheme which isn't bad but the new scheme is going to charge around 8.3% interest.

The question basically is, if I do decide to pay it myself and a sponsor gives me a sum of money into my bank account in the region of 40,000 at once, will I be taxed on it?

Reply 1515

OP

Original post by Funky_Climber

I am going to university in September and am currently trying to figure out if it is more financially viable to pay for myself or take out the loans. I am a graduate so I already have a loan on the old scheme which isn't bad but the new scheme is going to charge around 8.3% interest.

The question basically is, if I do decide to pay it myself and a sponsor gives me a sum of money into my bank account in the region of 40,000 at once, will I be taxed on it?

It's good news - this is likely not to be subject to income tax: http://www.nus.org.uk/en/advice/money-and-funding/info-and-advice/students-income-tax-and-national-insurance/

b) Scholarships and Sponsorships
Sponsorships and scholarships are not usually taxable as long as they do "no more than support a student during a period of study." If you are required to work in a company or organisation and their sponsorship is part-payment for this, see Placement Students below.

Reply 1516

firestar101

10

Does anyone know the easiest way of going about reclaiming a tax refund.

I want to claim from the period of April 2010 to April 2012.

Would it be best to telephone hmrc ( not sure what number to phone though)

Also, will I need all my pay slips, national insurance number, etc to tell the person on the phone.

Reply 1517

OP

Original post by firestar101

Does anyone know the easiest way of going about reclaiming a tax refund.

I want to claim from the period of April 2010 to April 2012.

Would it be best to telephone hmrc ( not sure what number to phone though)

Also, will I need all my pay slips, national insurance number, etc to tell the person on the phone.

Yep, just call your tax office in the first instance: http://search2.hmrc.gov.uk/kb5/hmrc/contactus/view.page?record=hpkspulskxM

Have your National Insurance number to hand.

Reply 1518

Mess.

Probably somewhere better to ask but here goes :h:

I lost my NI card when I lost my wallet on the bus. How do I go about getting another one?

This was posted from The Student Room's iPhone/iPad App

Reply 1519

OP