A MARTIN Lewis fan has got a £9,400 tax refund by doing a simple check – and you can do it too.
You could be owed hundreds – or in some cases thousands – of pounds from the tax man if you’ve accidentally overpaid.
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It’s worth checking you are on the right code, as letters should be arriving in the post from this month telling workers what their tax code is for the 2022/23 financial year.
The new tax year will start on April 6 2022 and will run until April 5 2023.
But if you’ve started a new job, or not given your new workplace a P45 form or filled in a starter checklist form, you might have been put on the wrong code.
That means you could be out of pocket – and able to get a refund, just like one Martin Lewis fan did.
The reader’s success story was featured in this week’s MoneySavingExpert newsletter, who discovered they were on the wrong tax code for three years.
The reader said that her tax code hadn’t been updated by her employer – so she was still being taxed as though she was self-employed.
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“It took an hour on the phone to HMRC, but I’ve now been refunded £9,400,” she said.
We explain how to check your tax code – and what to do if you’re on the wrong one.
How do I check my tax code?
Your tax code will be displayed on your payslip, usually listed near your National Insurance number.
Your company has to provide you with a payslip, so if you’re not sure how to access it, ask your employer for guidance.
You can also use the government’s online tax checker tool to view your tax code.
What if I think it’s wrong?
You can check if your tax code is correct by using HMRC’s online tool or MoneySavingExpert’s free online tax calculator.
You’ll need to let HMRC know if it’s wrong in order to get it updated.
You can call its helpline on 0300 200 3300.
If your tax code is right, you don’t need to do anything.
HMRC will write to you or email you if they change your tax code – and they will also write to your employer about any changes too.
Your updated tax code should show on your next pay slip.
How do I know if I’m owed a tax refund?
HMRC will send you a letter called a P800 or a simple assessment letter if you’re in line for a refund.
But if you get one through the door, don’t get too excited and make sure you read it first.
That’s because P800 letters can also tell you that you haven’t paid enough tax, and you’ll have to repay it.
You will only get a P800 after the tax year has ended. The letter will arrive between April and November.
This letter will tell you if you can claim online through the government’s website.
If you claim online the money will be sent to your account in about five days.
Or you can wait for 45 days and the government will send you a cheque in the post.
Five million low income Brits will be hit by huge tax rises in weeks – it could cost your hundreds of pounds.
Martin Lewis has urged ANYONE who has moved house since 1993 to check if they can get a council tax refund.
You have just WEEKS left to claim up to £125 tax back for working at home – here’s how.
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