- April 23, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Seeking Advice on Tax Rebate Calculation
Hello! I have been advised to seek help here regarding a question I have about tax rebates.
I was employed full-time from August 2022 to November 30, 2023, with an annual salary of £30,000. However, my total earnings for that period were about £17,500. I was on the normal tax code of 1257L.
From my understanding, I believe that I was being taxed each month based on the assumption that I would earn the full £30,000 from April to April. Since I only surpassed the allowance by around £5,000, I should have been taxed less and am eligible for a tax rebate, correct?
I am also curious about the timeline for tax rebates. I left my job to return to university and am currently experiencing the financial strain of student life.
Any assistance on this matter would be greatly appreciated. Thank you.
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Log onto your HMRC account and that will give you all the answers you need
> Am I right in thinking that I was taxed each month on the expectation that I would earn the full 30,000 from April-April
More or less. More to the point is that your £12570 tax free allowance will have been effectively divided by 12 with one twelfth applied to each month’s pay, but since you didn’t work or get paid from December to March about a third of it never got used meaning you will have overpaid.
HMRC should pick up on this and write to you but this can be anywhere between about June and November.
If this sort of situation happens again it’s worth knowing you could’ve put a claim in in December and probably got paid back quicker:
https://www.gov.uk/guidance/claim-back-income-tax-when-youve-stopped-working
If there is nothing extra after your tax code – e.g. ‘W1’ then you will likely have been taxed correctly and won’t be due a rebate. How much tx did you pay?
Yes, you will probably be due a tax refund. When this happened to me, HMRC sent me a letter a couple of months after the end of the tax year to explain how much the refund was and how it had been calculated.