REAL simple question for people that understand P60 forms!
#1
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Irritating c........
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From: The Dark Side of the Moon...
REAL simple question for people that understand P60 forms!
Right, the numbers in A + B are the same. In box C there is a different number.
Question = Does the ammount in box B include the ammount in box C (NI) or is it box A (or b) PLUS box C equel the total ammount of money that has been taken from my total earnings this year? (ie, if A = 1 and C = 1, total = 2)
Simple
#3
A + B relate to Tax paid and C relates to National Insurance (NI) so both different things. A+B don't = C
From looking at the form A relates to tax deducted during your current employment within the tax year and B relates to total tax deducted for all employment during the year (will include any figures in the box above A marked previous employment(s) - this is completed if you have moved employers during the tax year and info would be taken from your P45). Therefore only A + previous employment tax deducted = B. If it doesn't someones made a booby
Hope this helps
From looking at the form A relates to tax deducted during your current employment within the tax year and B relates to total tax deducted for all employment during the year (will include any figures in the box above A marked previous employment(s) - this is completed if you have moved employers during the tax year and info would be taken from your P45). Therefore only A + previous employment tax deducted = B. If it doesn't someones made a booby
Hope this helps
Last edited by Little Spikey; 25-05-2008 at 08:51 PM.
#5
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Irritating c........
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From: The Dark Side of the Moon...
No
RSSTEVE - of course you can't, I blured them out
Little Spikey - I know that a+B doesn't equel C - thats not what I was asking!
Focusv8 = right, so A is income tax paid in my current job. B is the same ammount as I haven't any other jobs, so no other income tax. C is what I have paid in NI. So if I tak A and add C, I get the total ammount of money that has been ripped from me - correct?
RSSTEVE - of course you can't, I blured them out
Little Spikey - I know that a+B doesn't equel C - thats not what I was asking!
Focusv8 = right, so A is income tax paid in my current job. B is the same ammount as I haven't any other jobs, so no other income tax. C is what I have paid in NI. So if I tak A and add C, I get the total ammount of money that has been ripped from me - correct?
#6
#7
And I believe Dick Turpins relations also use the Gross figure to calculate Tax and the same original Gross figure to calculate N.I.
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Last edited by focusv8; 25-05-2008 at 09:25 PM.
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#8
the box marked A = the amount of money that you were paid/taxed for your job as per the address at the bottom of the P60 under "your employer full name and address" as sometimes people have more than one job
the box marked B = the amount of money you were paid/taxed for the entire year for "all" your jobs combined
so if you had 2 jobs there would be a higher figure here and you would get another P60 form from your other employer
box C is the amount of national insurance contributions you've paid through the year for all the jobs combined, that's why there are more than a single section to fill in there
all these totals combined are the amounts of money that you are deducted at the end of the year when they caculate what's what
the box marked B = the amount of money you were paid/taxed for the entire year for "all" your jobs combined
so if you had 2 jobs there would be a higher figure here and you would get another P60 form from your other employer
box C is the amount of national insurance contributions you've paid through the year for all the jobs combined, that's why there are more than a single section to fill in there
all these totals combined are the amounts of money that you are deducted at the end of the year when they caculate what's what
#12
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Irritating c........
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From: The Dark Side of the Moon...
In box C is the NI tax I have paid. Lets say this is £50. So if you add B and C you get £150. But nowhere on the P60 does it say total deductions of £150.
So I just pressume I have been taxed a total of £150 for income and NI.
#13
Yes and no. What is in box A is income tax from my job. Lets say it's £100. So box B also says £100 as I only have one job so thats the total income tax I have paid. That makes sense.
In box C is the NI tax I have paid. Lets say this is £50. So if you add B and C you get £150. But nowhere on the P60 does it say total deductions of £150.
So I just pressume I have been taxed a total of £150 for income and NI.
In box C is the NI tax I have paid. Lets say this is £50. So if you add B and C you get £150. But nowhere on the P60 does it say total deductions of £150.
So I just pressume I have been taxed a total of £150 for income and NI.
Yeah there isn't anywhere on P60's for total deductions. Only tends to be shown on pay slips. Like you say total would be £150. Do you think you've been been stung for too much tax / NI? (I know the tax man is a robbing barsteward anyway, but you can't always guarantee your employer will get it right either - worth double checking your tax code etc)
#15
The "T" bit of your coding means "If there are any other items we need to review in your tax code" from the HMRC site, but this could mean quite a few different things.
This is the link to the HMRC site on what to do if you think your tax code is wrong http://www.hmrc.gov.uk/incometax/code-wrong.htm
I'd say it would be worth querying with them as they will sort out any overpayments by refunding you / changing your tax code to the correct one.
Hope this helps.
Last edited by Little Spikey; 27-05-2008 at 09:33 PM. Reason: for pf cocking up whilst replying
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