- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Help - paid twice in one tax month
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Help - paid twice in one tax month"
Collapse
-
Too late at this point unfortunately, taxes will have been paid across at financial year end.
-
-
I think what appears to have happened is that the Umbrella has applied a rollback for that period.
Within a financial year the brolly could ask you if you wished to be paid and receive the tax hit, or if you would like to wait until the next tax period. However, as this falls at the end of the financial year and my guess is that the work was undertaken within this tax year, then it must be processed this year, hence you will receive 2 payments and the tax take will be bigger than normal.
Unfortunately there is no way around this.
Leave a comment:
-
you will have used up your tax allowance on the first payment - and then potentially paid tax at 40% from zero on the second payment - sounds normal enough. Add the two net payments together and work out what you think you should of received if one payment was made.
Most Brollies tend to pay the day funds are received. Check with your agency and see if they paid early. if not ask why they paid you without the agency paying them?Last edited by moggy; 5 April 2017, 07:43.
Leave a comment:
-
So you got paid in April 16 and you've been paid in April 17 but both within the same tax year due to the payment on the 4th? I'd be asking them why they've paid you on the 4th. I've no idea how brollies work but is it something to do with the agency paying the brolly earlier because you are in the PS? If so they that is an unfortunate turn of events. If not if be wanting to know why the brolly paid on the 4th and not the 6th.
Not sure what you mean by getting it back. You got paid so tax has to be paid. Why do you think you'll get it back?
Have a chat with the brolly to see what they say. They are your employer after all.
Leave a comment:
-
Help - paid twice in one tax month
Hello, just wondering if anyone on here could helps me! I'm currently working under an umbrella company who pay me on the 6th of each month. This month I got paid on the 4th so that it falls within this year. Trouble is, I was already paid my normal wage in this tax month, so I've ended up paying a huge amount of tax and seem to be about £1,000 less off than I should be.. I've checked on the HMRC website and this 13th payment appears to have juuuust pushed me over the 40% tax threshold so looks like I've paid the right amount of tax.. my question is, will I ever get that extra money back? As I shouldn't have been paid twice in one tax month? Or is it, as I'm assuming you'll say, correct, and I won't see that money again?
Any help would be appreciated! Thanks
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: