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Where Taxpayers and Advisers Meet

Idk why im paying tax.

quantumx
Posts:3
Joined:Thu May 12, 2016 9:08 am
Idk why im paying tax.

Postby quantumx » Thu May 12, 2016 9:13 am

Hello i'm 20 years old man. I'm working for agency from 24 September 2015. When the new tax year have started i've start paying tax. Is it that how it should be or what ?

jpcentral
Posts:924
Joined:Wed Aug 06, 2008 3:28 pm
Location:Loughborough
Contact:

Re: Idk why im paying tax.

Postby jpcentral » Thu May 12, 2016 9:48 am

Probably - It depends on how much you earn each week/month.
John Perry
Central Business Services
Loughborough
http://www.centralbusiness.co.uk

quantumx
Posts:3
Joined:Thu May 12, 2016 9:08 am

Re: Idk why im paying tax.

Postby quantumx » Tue May 17, 2016 8:42 am

I'm earning about 400 per week netto.

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Idk why im paying tax.

Postby bd6759 » Tue May 17, 2016 8:59 am

If you earn on average more than £211 per week (gross) you pay tax

You will not have paid tax last year because you total earnings for the year will have been less than £10,600.

This year you earnings will be well over the threshold of £11,000.

quantumx
Posts:3
Joined:Thu May 12, 2016 9:08 am

Re: Idk why im paying tax.

Postby quantumx » Wed May 18, 2016 11:42 pm

But Am I gonna get 20% of first 11k back at the end of the tax year or no ?

jpcentral
Posts:924
Joined:Wed Aug 06, 2008 3:28 pm
Location:Loughborough
Contact:

Re: Idk why im paying tax.

Postby jpcentral » Thu May 19, 2016 12:40 pm

That depends on your tax code.

HMRC will normally tell your employer to use a tax code which automatically gives you the £11,000 personal allowance.

If your employer is using a tax code of 1100L, you are automatically getting the £11,000 allowance. If a different tax code is used, it might be worth speaking to HMRC to have it amended.
John Perry
Central Business Services
Loughborough
http://www.centralbusiness.co.uk

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Idk why im paying tax.

Postby bd6759 » Thu May 19, 2016 5:09 pm

But Am I gonna get 20% of first 11k back at the end of the tax year or no ?
No.
Every week, the first £211.54 is tax free. After 52 weeks, you will have received £11,000 tax free.


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