Tax calculation: check my working!

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 claim it?

Or not?

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!).

In message of Mon, 9 May 2005, Andy Pandy writes

Unless it was a 474L(W1/M1) code in which case it could go wrong if monthly/weekly pay had wide variations.

DF