Quizzes & Puzzles0 min ago
income tax
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I have two jobs, and used my single person's tax code for one, and paid basic rate tax on the second. Since the beginning of this financial year I have sought to make the second job my MAIN job, by completing a form P46 to get the tax code switched to that job, and pay basic rate tax on what was my main job but now has fewer hours. Now that the code has come through for the second job, and I am now being taxed properly for this, am I entitled to expect a rebate of the tax paid at basic rate on this job, from April of this year ? Or, does one have to claim ?
Your advice would ve much appreciated.
Your advice would ve much appreciated.
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.Unless you've been given a "Week 1 / Month 1" code it'll rebate automatically.
If you have been given a "Week 1 / Month 1" code it won't come through and there's nothing you can do until the end of the tax year (5th April 2009). You can reclaim it after you get a P60.
However, providing the two codes are consistent with one another (Ie both codes are "Week 1" or both aren't) then you won't have overpaid or underpaid tax in total anyway.
If you have been given a "Week 1 / Month 1" code it won't come through and there's nothing you can do until the end of the tax year (5th April 2009). You can reclaim it after you get a P60.
However, providing the two codes are consistent with one another (Ie both codes are "Week 1" or both aren't) then you won't have overpaid or underpaid tax in total anyway.