Tax code

(7 Posts)
stella1w Sun 31-Mar-13 21:21:28

My fixed term contract will end four months into the financial year. I,d like to make sure that i am not overtaxed because i need every penny. Last time i raised this with my employer they said it was nothing to do with them, but as they account for my tax to hmrc, this cannot be right. What, if anything, can i do?

SizzleSazz Sun 31-Mar-13 21:23:51

I think HMRC will average your wage over 12 months and tax accordingly. You can then reclaim the tax when you are no longer earning that average.

Redbindy Sun 31-Mar-13 21:26:21

Your employer does not know how much you will earn over the full year. You need to contact HMRC, but be prepared for a long wait if you phone them.

SizzleSazz Sun 31-Mar-13 21:30:08

Sorry, I was unclear - HMRC will assume you will be earning the same amount over the whole tax year. As RedBindy says you can try HMRC but i'm not sure you'll have much luck until your average 'unwinds'

stella1w Sun 31-Mar-13 21:35:13

Thanks. I suspect i will have several months of unemployment so the prospect of waiting til april 14 for a refund is frustrating as i cannot make ends meet now let alone when i have no work.

M1SSUNDERSTOOD Wed 03-Apr-13 16:55:55

Hi I think if you ask for a P50 form you can claim a rebate.

stella1w Wed 03-Apr-13 22:08:40

Thanks

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