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i have been on a br tax code since october last year, i earn roughly 15k a year. does anyone have any idea how much tax i can expect to get back?

2007-03-07 10:45:02 · 2 answers · asked by mrstaz147 1 in Business & Finance Taxes United Kingdom

2 answers

On a salary of 15K you will of been paying roughly £275 in tax per month, if you were on a tax code of 503L (normal 06/07 tax code) you would of paid £161 in tax, you have been on this code for 5 months so this is an overpayment of £114 per month x 5 = £570. BUT this depends on how much you have earned previous to October, my calculations presume that you have been on the same salary all year and have a tax code of 503L

2007-03-08 06:35:54 · answer #1 · answered by Anonymous · 0 0

It depends how many allowances were used up before October and whether you were taxed at the correct rate before then. If you get put on BR it is because the tax office thinks there is a good reason for it - like having two jobs. Anybody who offers a figure is merely guessing.

Of more concern is why you are still on BR and expecting a refund. Perhaps you should go to your nearest tax enquiry centre and find out. Don't you think it would be better to have more money in your wages instead of waiting for a refund?

2007-03-08 07:53:19 · answer #2 · answered by skip 6 · 0 0

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