I've only realised today that the tax office have been applying the wrong tax credits and standard rate cut off piont to my wages since 2005 (I know, I'm quick off the mark!!). It seems that when the rates changed at the end of 2005, they didnt automatically update them for me for what ever reason. I have been working in the same company since mid 2005.
As such I wreckon I'm due some tax back. I have done my calculation of how much I think I should be due but I'm not sure if its correct.
Could someone tell the correct way to calculate this figure.
Thanks.
There are a few tax calculator tools out there ( think a few threads on them all the time on AAM ) , do a search. You can also use the ROS offline application by downloading each years forms, it would be the F11 but will still do the calc for a PAYE worker. THe important thing is the 4 year rule. If you have overpaid you can only go back 4 year in addition to the current year. 2005 is still ok for now but if you think you're due money back, get your skates on to Revenue.
I've only realised today that the tax office have been applying the wrong tax credits and standard rate cut off piont to my wages since 2005 (I know, I'm quick off the mark!!). It seems that when the rates changed at the end of 2005, they didnt automatically update them for me for what ever reason.