I was payed fulltime when i work part time. My employer said i can pay it back in installements. because i was given the gross amount and not the net amount, what the best way t o pay it back? over 2 years? more or less? because they will deduct tax from that amount.
2006-12-17 22:24:41 · 8 answers · asked by Goldfish" 1 in Business & Finance ➔ Taxes ➔ United Kingdom
Given the circumstances, if you knew you were being overpaid your employer has a legal right to recover the overpayment regardless of whether it was their mistake or not.
Before agreeing any repayment plan you need to work out how much you can reasonably afford to repay by making a list of all your current outgoings against your current income. You should split your outgoings into "priority" and "none priority" debts. Priority debts include rent/mortgage, Council Tax, fuel bills etc. None priority debts include credit cards, loans, mail order etc. Priority debts must be serviced before none priority debts (the overpayment is none priority).
Once you have subtracted your current outgoings from your income, if you have any money left, you can offer this amount as repayment to your employer.
Citizens Advice can help you draw up a repayment plan and negotiate a reasonable repayment.
Good luck.
2006-12-18 00:39:20 · answer #1 · answered by paul h 4 · 1⤊ 0⤋
I think after 6 months they cant ask for it back. I would go to the CAB and ask their advice. Its not your fault their payroll cant do their job correctly and they are responsible for deducting tax from the wage and paying it so i would assume that it has been paid. That meens the only one loosing out would be the company. If they did their jobs correctly, they wouldnt have lost the money.
I was overpaid from one job and asked for the moeny back, they never persued it because they knew there was nothing they could do.
2006-12-17 22:30:33 · answer #2 · answered by Scottish Girl 4 · 3⤊ 0⤋
keep the money...their fault for overpaying you...ull also lose out as you pay them back...because theyll only take back bits of tax and ni, when at the time of getting paid, you would have paid extra tax on your extra income....
let them fight for the money....and surely itll be urs....
2006-12-18 02:52:01 · answer #3 · answered by Pat 4 · 0⤊ 0⤋
How come it took 2 years to notice. surly as its the company's fault could they not right off some of the debt, i would seek advice.
2006-12-17 22:31:37 · answer #4 · answered by Anonymous · 1⤊ 1⤋
surely you must of noticed?
ummm i think you should seek finicial help...... and see what they say.
dont worrie about it tho, it seems alot of money, but pay so much a week/month over a few years, as it wasnt just your fault!
2006-12-17 22:31:03 · answer #5 · answered by geminially 2 · 0⤊ 0⤋
Leave the company and let them fight for it. Chances are that they wont bother - debt cleared xxxxxxxxx
2006-12-17 22:28:20 · answer #6 · answered by starlet108 7 · 3⤊ 1⤋
Pay it back as fast as you can afford!!
2006-12-17 22:27:02 · answer #7 · answered by Bella 7 · 0⤊ 0⤋
Run.
Run fast and run far.
Why are you still reading this?
GO!!
2006-12-17 22:34:06 · answer #8 · answered by Anonymous · 1⤊ 0⤋