 I was suppose to recieve my tax rebate check today but i did not, why? help? |
| Accoding to ,my last two digits on my social i was suppose to recieve my rebate today on the 9th I am single and made more than 16000 last year, I have no kids owe nothng, not married , i recieve 1000... |
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 Tax fraud? |
Is this scenario totally okay in the eyes of the fed?
Two parents live together not married. They have 2 kids together.And 2 kids from previous relationships. Each of them claim 2 kids on their ... |
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 How much tax should we expect to pay on my husband's freelance job? |
| My husband is an architect currently employed with a firm. He just got a freelance job on the side, which is expected to pay him around $26,000 over the next year or so. (This is additional money ... |
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 When teenagers get taxes taken out of their paycheck, isn't that technically "taxation without representation"? |
something to think about.
Additional Details
Don't read too much into this question. I'm 25 years old. It's just something to think about.... |
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 Trying to file taxes. Dont have w-2 where is my Emplyer Id number? |
| I am using my last paycheck to claim my taxes with. Does anyone know where I can find my employer id number???... |
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 Can I file my taxes without my W2's? |
| My husband and I were planning on filing jointly this year as this is the first year we were married. My employer generally doesn't send out our w2's till the very last minute. My husband ... |
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 I have a tax question maybe someone can give me answers to? |
| i'm a first time tax filer i've never done it before what is the best place to go get my taxes done that would possably give me a part of my refund that day i go,and any tax place that ... |
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 A child living at home turns 17 Oct 27, 2007 can she still be claimed as a dependent? |
Additional Details
any idea how to override the HR Block Tax Cut programs response because it says she is 17 so not eligible as dependent?... |
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| I've been made redundant and I might be pregnant - would this change my package? Am I entitled to more? |
| I'm due to leave the firm 30th August, and have agreed a package. I've been at the firm for just under 2 years. Does the company have any duty to pay me anything if I'm pregnant and ... |
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 How important is it to declare profit on rental property? |
| I have a retal propert nowy nearly 8 months, income is alot greater than mortage, Should I declare it to inland rev, also is there anything I can write off against my profit? What would be the ... |
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 Does finance or boyfriend meet the qualifed dependent test when I am filing Head of Household? |
Additional Details
Seems to me a boyfriend meet the requirement for "qualifed relative" test but not the "qualifed person" under HOH test. But why? and if I am ... |
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 Tax Audit question, re: 401k Distribution? |
| I got audited on my 2006 tax return for taking an early distribution from my 401k. When I closed the account, I was given the option to have them withhold the penalties and taxes, or to give me the ... |
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 How much are you supposed to get for claiming your child on taxes? |
| He is 2 as of the end of last year. If that helps and i am head of household.... |
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 Who do you hire for filing complicated taxes? |
| I will be filing some complicated tax forms for 2007. I probably can't just take them down to H&R Block. I owned and sold a sizable amount of stocks & options (and lost a large amount of ... |
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 Question about taxes when selling a house and not buying another home...? |
| I purchased a condo 5 years ago. When I made the purchase I put a down payment of $25,000 down. I sold the condo in 2007. After closing, I walked away with $22,000. I did not purchase another home. A... |
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 Why has my employer asked me to fill in a p46? |
i have a p45 but its about 2 years old
my new employer has told me to fill in a p46.
why cant i just give them my p45?... |
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Shah K | First job. Am I on right TAX code? Can I earn £5k TAX free? |
Hi, i recently started work for a well known bank. This is my first job since leaving uni. I have been on JSA for around 5 months. I am currently 23 years old if that makes a difference.
I started work on 18th August. My salary being £13500/year.
Per month I earn £1125 before tax and get taxed £119.80
Make N.I. contributions of £73.92. Also I am paying pension of £22.50. Giving me pay after tax of £908.78
I am on tax code 603 L
I was told that up seeing as though this is my first job I would not get taxed for up to the first £5000 I earn. Is this correct? This is my first ever job. I did not have one throughout uni days.
Also, is my tax code right?
Please can some one help me. I am a complete newb when it comes to these matters. So someone who can give me an idiots explanation would be great!!!
Thanks!
Additional Details
WoW!!! Thanks for your fast replies!!! Very much appreciated!!!
However, I’m still confused.... ^_^
If i am either entitled to paying no tax or on the wrong tax code, how would I go about getting some money back. Or would this be done automatically??
Thanks!!! |
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steffi
 |
Right. Are you ready for this? You are being taxed on emergency basis with a month 1 code number, The pay for each month is taken in isolation when your tax is calculated.
You have an unused backlog of tax allowances, which will reduce your tax bill for this year. If you had been earning this amount since the start of the tax year on 6th April, it would be correct.
You should contact tax office, and tell them what you were doing since 6th April. That will be full-time education and Jobseekers, with dates. If you have form P45U/1A from Jobcentre, send with your letter. Unfortunately Jobseekers counts towards your taxable income. Tax office will send cumulative code number to employer, who will make any refund due with the next salary payment.
Just a couple of pointers. NIC deductions are correct. They are not charged cumulatively. Yes, you can earn £6035 before tax, thus tax code 603L. You are taxed on your pay after pension contributions have been taken off, £1102.50. |
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FIONA C
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You don't pay tax on about the first £5k that you earn but it is spread out over a 12 month period fron 6 April.
Looking at the figures you have posted all seems to be in good order, you have the correct tax code and are paying the correct rate of tax.
if you are on month 1 or week 1 tax code - 603l mth1/wk1 the tax you are paying is based as that and is not accummulative but in month 12 (March 09) you will them get back any tax which you have over paid(from 6 april 08 until you started working in august) |
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George Lovegod Carter
 |
In the UK a tax code of 603L means you can earn £6,030 in any one fiscal year (April 08 - March 09) tax free, this tax free pay builds up over the year from April.
Monthly £502.50
Weekly £115,96
So if you started in August your tax free pay would be (Apr to Aug) 5 months x £502.50 = £2,512.50 v Earnings of £1,125 so you should not have paid tax in your August 08 pay packet and your Sept and Oct 08 pay.
In November 08
£4,500.00 Earnings (4x £1,125)
£4,020.00 Tax free (8 Mths @ £502.50)
£480 of your pay is taxable in November 08
This is a simple as I can make it and I hope you can follow the logic.
Cheers |
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sambo
 |
yh it is 5k tax free im in the same bracket as you although as youre in your first job it may be that youre on emegancy tax code.youll have to wait till the end of the tax year and you may be entitled to a rebate i had 1 of 300 pound last year |
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boy jason lunday darkness smarts
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yes |
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mickdaddy69
 |
If you go on to the citizens advice website it will give you all the information you want about this |
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Scobill
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Your tax code is for a single person and the 603 stands for £6030 earnings in the tax year before you start being taxed . The tax year is April to March . If you have not earned anything else in the year April 2008 to now you may well be due a rebate after end of March this year
All companies have their own wages dept and or human resource management , you should give them a call to ask for advice on your own case . Also you can contact your tax office , ask your HR manager for the phone number , and they can talk you through code and what you might expect in term,s of rebate |
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HoneyBabe
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Its correct sweety, ur tax code 603L means that your first year your tax free pay is not 5K but its 6035 pounds then after that your salary will be taxed as 20% AND NI is deducted on 9% basis.
Hope this helps. |
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