Just got my P60 and according to certain tax calculators on the internet they reckon I overpaid around £70 NI contributions. What's the process to get these back or will they be returned automagically?
If it's anything like what happened to me (except it was income tax not NI tax that I had overpaid) I just had a -ve amount on the slip in the next month. Which was nice
Because NI contributions are not covered by your tax code (which is how you'd get an automatic credit of income tax overpaid), you'll have to go to the revenue to get it back. Just phone your tax office, you should be able to get their details from your HR department.
Yup just phone the tax people. They are usually quite nice. Make sure you have all the employers details etc. I found that it was easier to just moan at HR (when the company has someone,) and they sorted it faster.
You can get NI returns? Hmm, I'm expecting a tax return (~ £150) but NI? What "certain" tax calculators did you use?
The ones that don't charge you. Just popped in how much I earned in the last tax year (according to my P60) and my tax code.
Looks like I miscalculated and if the tax calculator is correct I'm due for £350 back (I hope), my NI contributions seem to be in order however. I have to say that the government need to do more to make tax matters a bit clearer to first time jobbers, I've been really confused over what I should be doing and who I need to contact or if everything is automatic.
pfft tax n00bs! it's easy to work out!! 5035 allowance 2150 @ 10% 31150 @ 22% rest at 40% class 1 primary is even easier 5035 none 33540-5035 @ 11 % rest at 1% obviously that is only on salary. if you have other income, such as bank interest or dividends, you need to gross it up, apply relevent rates then deduct tax at source. assuming other income is fairly low, basing it just on salary wil give you a good idea!!
