farmaz
Ex-Bluelighter
same for me too
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- Thread starter jay-e-tard
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same for me too
mydrugbuddy
Bluelighter
@PTCH - I dont see how you are right. Every month the taxman helps himself to between £109 and £187 in tax from my wages. If i decide to stop working before my earnings reach £ 9,000 on April 4th or whatveter 2014 - I should get all that tax i paid between april 2013 and april 2014 refunded ? 
mydrugbuddy
Bluelighter
its a vote winner. A more or less open bribe "want an extra £200 then vote for us"
parttime crackhead
Bluelighter
@PTCH - I dont see how you are right. Every month the taxman helps himself to between £109 and £187 in tax from my wages. If i decide to stop working before my earnings reach £ 9,000 on April 4th or whatveter 2014 - I should get all that tax i paid between april 2013 and april 2014 refunded ?
How can you not see that I am right? Here it is again, broken down further.
£9000p/a tax free. 9000/12 = £750 a month tax free.
Income - Tax free amount = Taxable Income.
so...
£1000p/m - £750 = £250 taxable income. 20% (basic income tax rate) of £250 = £50 tax paid per month.
Work for 9 months. 9 x £50 = £450 tax paid.
It's fairly simple maths & not open to interpretation at all. There's no way that can possibly be wrong (unless I'm still out my nut & have fucked up a sum but I doubt it & you'd easily be able to see if I had).
mydrugbuddy
Bluelighter
I belive it is calculated per anum, and not per month as you suggest.
I'll look it up.
I'll look it up.
parttime crackhead
Bluelighter
It's calculated per month/week (however often you're paid) using PAYE tax tables giving you your tax free allowance up to that point in the year (eg, at month 2 you have 2 x 1/12th of your annual allowance). If it was calculated per annum you wouldn't have paid any tax at month 9 when you quit. You'd also have to pay your tax separately (as if you were self-employed) at the end of the tax year, as otherwise how could it be calculated per annum when you pay tax per month? How could they possibly know what your annual income will be at month 1 of the tax year?
Look it up. Then come back & tell me I'm right. I only had to explain this shite to people for about 4 years. Nothing more annoying than explaining exactly how it works, giving a clear example so the person can see that is how it works & can't possibly argue unless they've flipped mathematics on it's head, yet they still say "I don't think that's right". Wtf? Get a calculator. Tell me how it could possibly be different.
Look it up. Then come back & tell me I'm right. I only had to explain this shite to people for about 4 years. Nothing more annoying than explaining exactly how it works, giving a clear example so the person can see that is how it works & can't possibly argue unless they've flipped mathematics on it's head, yet they still say "I don't think that's right". Wtf? Get a calculator. Tell me how it could possibly be different.
At the end of the tax year you would get a refund for anything you had effectively overpaid though, so in your scenario you'd get all the tax back after that tax year had ended.
I know they do this for benefit in kind at least as I got a chunky refund once as I'd been paying tax on a car I'd got rid of in the September
I know they do this for benefit in kind at least as I got a chunky refund once as I'd been paying tax on a car I'd got rid of in the September
pinkpapaver
Bluelighter
^ or a bill for not paying enough tax 
the last tax year i gave up paye work, got tax back on a monthly basis from the job i had left, then got a tax bill. headache.
the last tax year i gave up paye work, got tax back on a monthly basis from the job i had left, then got a tax bill. headache.
parttime crackhead
Bluelighter
Edit - @atm23 (same thing in reverse if you are landed with a bill - eg, your actual benefits were higher than what was included in your tax code during the year) That's because your benefit in kind would have reduced your tax code (your annual tax free allowance) by the annual value of that benefit. You didn't have that benefit for the full year which wasn't found out by the tax office (therefore changing your tax code) until the year was finished.
Example: (made up figures for the sake of argument)
Car benefit 5000 per annum.
Standard personal allowance 9000 per annum.
Your personal allowance (from the start of the tax year) = allowance - benefits = 9000 - 5000 = 4000.
Monthly personal allowance 4000/12 = £333.33 (tax free income per month).
End of the tax year HMRC are told that you only had the car for 6 months, not the forecast 12. Allowance is recalculated, car benefit would be 2500 (half of the annual amount) so personal allowance would be 9000-2500 = 6500. As the tax year in question is now over then that allowance can be applied to the annual amount (this can only happen in retrospect, once the actual figures are known. It clearly cannot be applied to the annual income on a month by month basis as your annual income is not known during the year, it is only known for a fact once the year is over) to calculate how much tax you should have paid & refund you the overpaid amount.
I wish a muthafucka WOULD tell me I'm wrong!
Example: (made up figures for the sake of argument)
Car benefit 5000 per annum.
Standard personal allowance 9000 per annum.
Your personal allowance (from the start of the tax year) = allowance - benefits = 9000 - 5000 = 4000.
Monthly personal allowance 4000/12 = £333.33 (tax free income per month).
End of the tax year HMRC are told that you only had the car for 6 months, not the forecast 12. Allowance is recalculated, car benefit would be 2500 (half of the annual amount) so personal allowance would be 9000-2500 = 6500. As the tax year in question is now over then that allowance can be applied to the annual amount (this can only happen in retrospect, once the actual figures are known. It clearly cannot be applied to the annual income on a month by month basis as your annual income is not known during the year, it is only known for a fact once the year is over) to calculate how much tax you should have paid & refund you the overpaid amount.
I wish a muthafucka WOULD tell me I'm wrong!
parttime crackhead
Bluelighter
Just to be totally correct. You're not exactly taxed on a month by month basis, you're taxed on your year to date figures (how much you have earned up until that point in the tax year). So at month 6, if your income is £1000p/m, you've earned £6000 & have 6 x 1/12 of your tax free allowance applied to that to then calculate your taxable income & therefore how much tax you should have paid, this is compared to how much tax you have already paid & the additional amount is deducted from your wage. At month 7 you've earned £7000 & have 7 x 1/12 of your tax free allowance...
mydrugbuddy
Bluelighter
From the HRM sites -
Tax refunds and reclaiming overpaid tax
Reclaiming tax if you've overpaid through your job How to claim a refund if you think you've paid too much tax on your employment or self-employment income
Taxable income that you can receive tax-free
Almost everyone is entitled to receive a certain amount of taxable income tax-free during the tax year. This is called the Personal Allowance and it increases from age 65.
If you think you've paid too much tax
If you want to claim a tax refund because you didn't use your Personal Allowance, or for any other reason, you need to do so within certain time limits. The time you’ve got to make your claim is different depending on whether or not you complete a tax return. Follow the link below to find out how to claim and how long you’ve got to do so.
Tax refunds and claiming back tax you've overpaid
When might you have overpaid tax through your job?
You may have paid too much tax if:
you were only employed for part of the year
you stopped working and didn't get any taxable earnings or benefits for the rest of the tax year.
from all this i would appear to have a case. Not taking any chances though as i'll be on the phone to their top bods soon
Tax refunds and reclaiming overpaid tax
Reclaiming tax if you've overpaid through your job How to claim a refund if you think you've paid too much tax on your employment or self-employment income
Taxable income that you can receive tax-free
Almost everyone is entitled to receive a certain amount of taxable income tax-free during the tax year. This is called the Personal Allowance and it increases from age 65.
If you think you've paid too much tax
If you want to claim a tax refund because you didn't use your Personal Allowance, or for any other reason, you need to do so within certain time limits. The time you’ve got to make your claim is different depending on whether or not you complete a tax return. Follow the link below to find out how to claim and how long you’ve got to do so.
Tax refunds and claiming back tax you've overpaid
When might you have overpaid tax through your job?
You may have paid too much tax if:
you were only employed for part of the year
you stopped working and didn't get any taxable earnings or benefits for the rest of the tax year.
from all this i would appear to have a case. Not taking any chances though as i'll be on the phone to their top bods soon
Mailmonkey
Bluelighter
I haven't read all tis properly...
But i know if you are in THE SAME JOB ALL year, refunds tend to come on a monthly basis. once or twice, dues to bonuses/overtime, I've been pushd inot the top rate tax bracket....this was fed back to me over the next couple of months,,,
But i know if you are in THE SAME JOB ALL year, refunds tend to come on a monthly basis. once or twice, dues to bonuses/overtime, I've been pushd inot the top rate tax bracket....this was fed back to me over the next couple of months,,,
parttime crackhead
Bluelighter
mydrugbuddy - What do you mean have a case? My point wasn't that you couldn't claim back your tax, it was simply that the amount of tax you think you would have paid in 2013/14 was way higher than what it would really be. You were shouting a couple grand, I explained why it would only be £450. You didn't believe me. That copy & paste job about claiming tax back at the end of the year has no real relevance, it just confirms that you can claim back overpaid tax (no-one was disputing this).
MM - That's correct. mydrugbuddy was intending to work for the first 9 months (therefore getting 9/12ths of his annual tax free amount) sack the job then claim the tax back from HMRC (due to the 3 months of unused tax free allowance). He's totally right about doing it that way, once he leaves the job he can only get his tax back from a new employer or from HMRC (either at the end of the year or by declaring that he will have no more taxable income until the end of the year - thus effectively ending his financial year early). He's wildly incorrect about the amount of tax he thinks he will have paid though
Edit - "their top bods"? Hahaha. Be prepared to speak to a cunt like me lol. Who will tell you what I've told you but probably in an even more confusing way.
Edit again - I'm not being arsey about this btw, sorry if it comes across like that. I can see reading it back that it might. I'm just trying to explain how it works as I know most people don't have a clue, I certainly didn't until I was paid to.
MM - That's correct. mydrugbuddy was intending to work for the first 9 months (therefore getting 9/12ths of his annual tax free amount) sack the job then claim the tax back from HMRC (due to the 3 months of unused tax free allowance). He's totally right about doing it that way, once he leaves the job he can only get his tax back from a new employer or from HMRC (either at the end of the year or by declaring that he will have no more taxable income until the end of the year - thus effectively ending his financial year early). He's wildly incorrect about the amount of tax he thinks he will have paid though
Edit - "their top bods"? Hahaha. Be prepared to speak to a cunt like me lol. Who will tell you what I've told you but probably in an even more confusing way.
Edit again - I'm not being arsey about this btw, sorry if it comes across like that. I can see reading it back that it might. I'm just trying to explain how it works as I know most people don't have a clue, I certainly didn't until I was paid to.
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mydrugbuddy
Bluelighter
Still dont get it, if i overpay tax by £200 per months for 9 months but quit while i am still under my personal allowance, then surely i should get ALL of my £1800 back ? This is because of that £9000 odd is my tax free allowance on my earnings?
This is because of that £9000 odd is my tax free allowance on my earnings?
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BecomingJulie
Bluelight Crew
I think we should switch to calculating tax using a quadratic equation, e.g. y = ax²+bx+c where y is the amount of tax paid on a gross amount x. Normally, a would be small, and c negative (ideally, equal to a year's minimum wage -- that simplifies matters a lot for employers taking on staff at minimum wage and so should lead to some job creation. Only minimum wage job creation, but that is still better than benefit dependency); if it works out that y < 0 then you don't pay any tax (but you don't get a refund, either). The squared term means the more you earn, the more tax you pay, without resorting to tax bands.
parttime crackhead
Bluelighter
Still dont get it, if i overpay tax by £200 per months for 9 months but am still under my personal allowance. Then surely i should get ALL of my £1800 back ?
Why on earth would you be overpaying tax by £200 every month though? You are talking about a job earning approx £1000 a month, go back to where I explain how much tax you would pay per month on that income with a 9k personal allowance. You can't be overpaying tax by £200 when you would only be paying £50 tax each month.
If you were, then yes you would get it all back. But why would you be???
