Hi all,
I wonder if there's any tax experts who can give me some quick advice?
Excuse me if this is long but if anyone can offer me any advice, I'd appreciate it greatly!
Last september I got a job at weatherspoons - this was my first job that particular tax year and I didnt work the previous tax year either so no P60 or P45 to give to them when I started working. They didnt ask me to fill out a P46 (and I didnt know any wiser at that point) so...I get charged 22% tax on my measly £60pw income on a BR (or BR1?) taxcode. "Fine" I thought - "I'll claim it back".
So, in December (3 months later) I'd had enough and quit (never work there - trust me!) and immedietly got a job at Blockbuster where again, because Weatherspoons was slow - I didnt have a P45 to give in but I said I would so didnt fill out a P46 again - still on the BR taxcode. About 2 months later, Weatherspoons FINALLY sent me my P45 after much nagging from me. I handed this to Blockbuster asap - it was now Feburary.
The tax year end came and went - I'm still getting taxed £1 every hour I work (I earnt £5 an hour) - no biggy, I'll claim it back. So I get my P60 from blockbuster and all is fine. I dont know if I should have acted now but I didnt - exams etc. Anyway, continue on a Blockbuster still on BR tax code in the new tax year. Then I quit Blockbuster and come to the City and do an internship - now I'm earning almost £700 a week and I didnt have a P45 to give them from Blockbuster (too slow again) - but this time I fill in a P46 - and get put on 503L1 tax code (which I understand is "awaiting processing" or something similar?). This means I will be taxed over £4000 this year and I'd have earnt about £12000 net. I understand I will have earnt over the personal allowance therefore I'll have to pay a little tax but not that much!!
What are my options?
Will I have to wait until April, new tax year (*sob*) to claim it all back? Can I do something about it now?? What would you do?
Regards!
James
I wonder if there's any tax experts who can give me some quick advice?
Excuse me if this is long but if anyone can offer me any advice, I'd appreciate it greatly!
Last september I got a job at weatherspoons - this was my first job that particular tax year and I didnt work the previous tax year either so no P60 or P45 to give to them when I started working. They didnt ask me to fill out a P46 (and I didnt know any wiser at that point) so...I get charged 22% tax on my measly £60pw income on a BR (or BR1?) taxcode. "Fine" I thought - "I'll claim it back".
So, in December (3 months later) I'd had enough and quit (never work there - trust me!) and immedietly got a job at Blockbuster where again, because Weatherspoons was slow - I didnt have a P45 to give in but I said I would so didnt fill out a P46 again - still on the BR taxcode. About 2 months later, Weatherspoons FINALLY sent me my P45 after much nagging from me. I handed this to Blockbuster asap - it was now Feburary.
The tax year end came and went - I'm still getting taxed £1 every hour I work (I earnt £5 an hour) - no biggy, I'll claim it back. So I get my P60 from blockbuster and all is fine. I dont know if I should have acted now but I didnt - exams etc. Anyway, continue on a Blockbuster still on BR tax code in the new tax year. Then I quit Blockbuster and come to the City and do an internship - now I'm earning almost £700 a week and I didnt have a P45 to give them from Blockbuster (too slow again) - but this time I fill in a P46 - and get put on 503L1 tax code (which I understand is "awaiting processing" or something similar?). This means I will be taxed over £4000 this year and I'd have earnt about £12000 net. I understand I will have earnt over the personal allowance therefore I'll have to pay a little tax but not that much!!
What are my options?
Will I have to wait until April, new tax year (*sob*) to claim it all back? Can I do something about it now?? What would you do?
Regards!
James