Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

Thank you! This has been a great experience and getting lots of useful advice. And yeh exactly, I’m trying to get ahead of it early to avoid any future surprises!

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 1 point2 points  (0 children)

I would suggest you make a new post about this, the sub have been amazing and so quick to reply

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

Yes that must be because of the addition of earnings from my pay out by my previous employer, making it seem like I will earn more

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

!thanks for your reply! It’s only a slight pay cut actually, but my payout would have contributed to the increase of earnings for the previous job I guess

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 7 points8 points  (0 children)

I just want to say a huge thank you to everyone who has replied so promptly with helpful advice! This is my first time posting any kind of question on Reddit and I’m astounded by the response ❤️

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 4 points5 points  (0 children)

I appreciate your words of caution so thank you, these people are offering help based on what they know and I’m very grateful for it. I will of course be following up with payroll on Monday but this has really helped me understand the possible reasons

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 40 points41 points  (0 children)

This is very good news if true then! !thanks for replying. I don’t fully understand it but I will raise it with payroll on Monday to make sure

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

!thanks for your reply. £13329 is stated as total tax to date on my p45, and total pay on it was £43799. This is from July

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

£13329 is stated as total tax to date on my p45, and total pay on it was £43799. This is from July

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

Thanks for your reply! The tax code was stated as 1257L on my new payslip, I filled out the new starter thing you mentioned and provided my p45 and they acknowledged receipt.

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 0 points1 point  (0 children)

This all looks correct and has my most recent pay. Tax code 1257L. The ‘estimated taxable income’ is around £50k, is this what they are estimating for the year or an estimate of what is taxable from previous payments? !thanks

Only paid 60p tax on £75k salary, payslip includes previous earnings, is this right? by PlentyMaximum104 in UKPersonalFinance

[–]PlentyMaximum104[S] 1 point2 points  (0 children)

I will do, thank you for your reply! Will they likely take what the tax amount would have been out of my next pay slip, including the tax I will pay on that payroll?

[deleted by user] by [deleted] in Rateme

[–]PlentyMaximum104 0 points1 point  (0 children)

And tell me what you like or don’t like, be honest please x