How to check your income tax

Article Abstract:

A simple formula is usually sufficient to allow most taxpayers to calculate their income tax. However, complications can arise in cases where, for example, tax has been under- or over-paid in previous years or where there is double taxation relief on income from abroad. Tax-free income such as statutory redundancy pay, housing benefit and education grants should not be included when assessing income tax.

Analysis, Tax rates

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How to check your income tax

Article Abstract:

Taxpayers can use a calculator of questions to work out if they have paid the correct amount of income tax in the 1994-95 tax year. Tax-free income from home improvement or educational grants should not be included in the calculator. Tax deducted at source or already paid should be given in pounds and pence, while outgoings should be rounded down to the nearest pound sterling.

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Income from an employer

Article Abstract:

PAYE taxpayers can ensure that their employer is deducting the right amount of tax from their income by checking their notice of coding and payslip. Employers work out how much tax to deduct by consulting tax tables and by using a PAYE code from the Inland Revenue. The PAYE code establishes the amount of free-of-tax income allowed in a tax year.

Taxation, Workers

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