Tax calculation: check my working!

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 corrections/advice.
Pay: 22470.59 PAYE Tax deducted: 3763.15 Code: 474L
So,
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).
Any comments?
Reply to
Billy
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?
Reply to
T S Skogvold

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"?
Reply to
Andy Pandy

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.
Reply to
Billy

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!).
Reply to
Andy Pandy
Unless it was a 474L(W1/M1) code in which case it could go wrong if monthly/weekly pay had wide variations.
DF
Reply to
David Floyd

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