Tax Question

[cassa333]

How come on my salary to date of £1207.28 I have paid £140.80 tax?

[jackthehat]

What is you tax code?

[mikey4444]

Cassa....you have given us anything like enough info to really help you here.

The tax you pay is entirely dependent on the tax code that the Inland Revenue has given your employer.

The total tax you pay every year is a complicated issue....you may have other regular incomes, like pensions coming in.

The only way to find out for sure is to call you tax office, although you will have to be patient, as you may be "on hold" for a long time

[bhg481]

If you are telling us that since April this year you have only earned £1207.28 you shouldn't have paid any tax. Have you been living on savings or do you receive money from some other source?

[cassa333]

This is pay Tom date for 7 months so from April I suppose.

I don't have other regular income but I do a tax return for a rental property I have. The money from the rental property just sits in the account waiting to pay for maintenance etc.

When I do my tax return I always get a rebate though.

There isn't a tax code that I can see on my pay slip.

[mikey4444]

Cassa.....a tax code should be on all payslips, so you had better contact your Employer, as well as the IR. It looks as if you may be on an emergency tax code.

[bhg481]

Money from rent counts as income, although there is an amount below which there is no tax due.

[Islay]

The IR does not exist anymore - its HMRC!

[cassa333]

Just got my p45 and it says my tax code is 74L

This was the tax code about four years ago I think??

[fiction-factory]

Just contact HMRC and ask for a full breakdown of your allowances and ask them to check this code

[fiction-factory]

If it's a p45 the job will have eneded so you will have to wait until the end of the tax year to sort things out- unless they can make an adjustment to another code from another source of income.

[bednobs]

74l is a really really low tax code.
Mine is 1150L

[fiction-factory]

Yes, but I think cassa has anothe rsource of income so maybe some of the code is allocated against that

[bednobs]

good point ff

[cassa333]

I have rental income that comes to less that £6,500 most years. Some years under £4,000 (should go up now the crappy tenants are gone).

Last year I also had a temp job at Morrisons for two months over Christmas.

I will give the tax office a ring tomorrow. Last day working at the school tomorrow so will have a bit of time.