Hi guys, I've just recieved my end of year P60, and have worked out
that I'm owed a little bit of a tax rebate. I think i've taken
everything into account in my sums, but i'd gratefully recieve any
PAYE Tax deducted: 3763.15
22470.59 - 4740 (tax free allowence) - 2020 (lower band allowence, to
be factored back in later) = 15710.59
(15710.59/100) x 22 = 3456.33
(2020/100) x 10 = 202
3456.33 + 202 = £3658.33
I actually paid £3763.15, so i'm owed £104.82 (not a huge ammount,
but worth claiming for if its correct).
Apologies if this is a stupid question, but will your future tax
payments not be adjusted so that you will pay £104.82 less in tax?
That is, you will always get this money back later without having to
There's something wrong here - you haven't got a funny tax code so the PAYE
system should have deducted the correct amount of tax automatically.
Was there some earnings in a previous employment on your P60? Or does your
employer tax any benefits "at source"?
I assumed it was because I earn a varying amount every month depending
on how much over-time I do. That's what prompted me to check. I've
since phoned the IR and they've confirmed that I am owed a rebate, so I
guess I worked it out correctly after all.
Yup, your calculations look right (to be pedantic a code of 474L gives you 4749
tax free). But your employers PAYE system has got it wrong. It shouldn't matter
that you earn varying amounts per month cos PAYE works on a year to date basis.
Suggest you ask your payroll dept to look into it otherwise you'll have this
hassle every year (you might end up owing them money next year!).