Overpaid but already left
Discussion
Hello all
was overpaid after i left and the company are asking for the money back
they originally just sent a figure so i asked for a breakdown
they have divided the monthly income, divide 22 days (working days) then x that by the number of days i worked in that time
then based of that they knocked out NI , Tax, student loan etc
surely its not that simple? wouldn't they need to know how much tax i've paid so far this year?
thankyou
was overpaid after i left and the company are asking for the money back
they originally just sent a figure so i asked for a breakdown
they have divided the monthly income, divide 22 days (working days) then x that by the number of days i worked in that time
then based of that they knocked out NI , Tax, student loan etc
surely its not that simple? wouldn't they need to know how much tax i've paid so far this year?
thankyou
Mirinjawbro said:
Hello all
was overpaid after i left and the company are asking for the money back
they originally just sent a figure so i asked for a breakdown
they have divided the monthly income, divide 22 days (working days) then x that by the number of days i worked in that time
then based of that they knocked out NI , Tax, student loan etc
surely its not that simple? wouldn't they need to know how much tax i've paid so far this year?
thankyou
They only need to tax you based on what they paid you, not on any other income you have from other employment, pension, etc.was overpaid after i left and the company are asking for the money back
they originally just sent a figure so i asked for a breakdown
they have divided the monthly income, divide 22 days (working days) then x that by the number of days i worked in that time
then based of that they knocked out NI , Tax, student loan etc
surely its not that simple? wouldn't they need to know how much tax i've paid so far this year?
thankyou
TL;DR it probably is that simple for them.
Your pay (if you are typical salary and PAYE) will be taxed properly for the year by any future employer in the same year, by a tax code change.
If you make enough (>£100K) or are complex enough (loads of things going on) to need to do self assessment, you would work this out in your return for 2023/24.
Mirinjawbro said:
Hello all
was overpaid after i left and the company are asking for the money back
they originally just sent a figure so i asked for a breakdown
they have divided the monthly income, divide 22 days (working days) then x that by the number of days i worked in that time
then based of that they knocked out NI , Tax, student loan etc
surely its not that simple? wouldn't they need to know how much tax i've paid so far this year?
thankyou
Assuming I've understood correctly it IS that simplewas overpaid after i left and the company are asking for the money back
they originally just sent a figure so i asked for a breakdown
they have divided the monthly income, divide 22 days (working days) then x that by the number of days i worked in that time
then based of that they knocked out NI , Tax, student loan etc
surely its not that simple? wouldn't they need to know how much tax i've paid so far this year?
thankyou
The first part of your calculation shows the GROSS overpayment
The second part of your calculation removes the elements that they will recover from HMRC (tax, NI, Student Loan)
This leaves your NET overpayment (the amount they want back from you)
ETA the tax you've paid for the year is irrelevant. It's only the tax they have deducted on that particular payslip that matters. That being said, if it's your one and only job then there shouldn't be any difference.
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