anybody on here red hot RE NI and TAX?

strumjoughlamps

any peeps on here good at this stuff, I cannot find owt on t'web..

so without letting you all know how poor I am I will try to get my info across.

I work 34.5 hr PW and lets say my total NI and TAX deductions are £3

now I have accrued lots of holiday to which I will not use so have been allowed  to cash some in so this week I added on 21 hrs..

my total deductions are now £9-£10

I have the standard 1150L tax code..

hows that work then?

ThePrettyDamned

strumjoughlamps said:

any peeps on here good at this stuff, I cannot find owt on t'web..

so without letting you all know how poor I am I will try to get my info across.

I work 34.5 hr PW and lets say my total NI and TAX deductions are £3

now I have accrued lots of holiday to which I will not use so have been allowed  to cash some in so this week I added on 21 hrs..

my total deductions are now £9-£10

I have the standard 1150L tax code..

hows that work then?

Are you on a zero hours or weekly rolling contract? 

strumjoughlamps

ThePrettyDamned said:

strumjoughlamps said:

any peeps on here good at this stuff, I cannot find owt on t'web..

so without letting you all know how poor I am I will try to get my info across.

I work 34.5 hr PW and lets say my total NI and TAX deductions are £3

now I have accrued lots of holiday to which I will not use so have been allowed  to cash some in so this week I added on 21 hrs..

my total deductions are now £9-£10

I have the standard 1150L tax code..

hows that work then?

Are you on a zero hours or weekly rolling contract? 

daily as in I wait for a text to say if I am in the next day but have been consistent 34.5 hrs at the same place for the past 12 months.

ThePrettyDamned

strumjoughlamps said:

ThePrettyDamned said:

strumjoughlamps said:

any peeps on here good at this stuff, I cannot find owt on t'web..

so without letting you all know how poor I am I will try to get my info across.

I work 34.5 hr PW and lets say my total NI and TAX deductions are £3

now I have accrued lots of holiday to which I will not use so have been allowed  to cash some in so this week I added on 21 hrs..

my total deductions are now £9-£10

I have the standard 1150L tax code..

hows that work then?

Are you on a zero hours or weekly rolling contract? 

daily as in I wait for a text to say if I am in the next day but have been consistent 34.5 hrs at the same place for the past 12 months.

strumjoughlamps said:

ThePrettyDamned said:

strumjoughlamps said:

any peeps on here good at this stuff, I cannot find owt on t'web..

so without letting you all know how poor I am I will try to get my info across.

I work 34.5 hr PW and lets say my total NI and TAX deductions are £3

now I have accrued lots of holiday to which I will not use so have been allowed  to cash some in so this week I added on 21 hrs..

my total deductions are now £9-£10

I have the standard 1150L tax code..

hows that work then?

Are you on a zero hours or weekly rolling contract? 

daily as in I wait for a text to say if I am in the next day but have been consistent 34.5 hrs at the same place for the past 12 months.

Okay, so basically with rolling stuff (I was weekly pay day) the amount deducted varies weekly depending on the money earned. 

It assumes that is the amount you will earn every week (or pay interval) for the rest of the year - so a 70 hour week gets heavily taxed. 

The flip side is if you then worked, say, only ten hours in a week you'd probably get a small tax refund that week too. 

It sounds like you've made this week with holiday add up to 55 hours work. If that's the case, in a  week or whenever the next pay day is, you'll probably pay nothing or get a wee refund. 

It doesn't always go perfectly smoothly mind. 

Also, I could be completely wrong - this is based from my weekly pay on a zero hours contract. 

RedRabbit

Based on your deductions, your usual earnings are only just about the weekly NI limit so you are use to only have NI taken off a small percentage of your income. The additional 21 hours will all be subject to NI at 12% so your total deductions will be proportionally more of your gross earnings. Unfortunately, NI isn't calculated cumulatively so even if this means you'll have overpaid based on annual limits come the end of the tax year you won't get it back.


If your deductions are understated and there is some tax included then you'll reclaim any "overpayment" throughout the remainder of the year as tax is calculated cumulatively.