A MARTIN Lewis has got a £465 tax rebate by making a simple call – and you can do it too.
You could be owed hundreds – or even thousands – of pounds from the tax office by accidentally overpaying.
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It’s worth checking whether you are on the correct code, and therefore paying the right amount of tax.
Letters have been sent out from last 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.
Some tax codes changed last year, so it’s a good idea to make sure you understand what they mean – otherwise you could be out of pocket.
If you’ve recently moved jobs, not given your new workplace your P45 or filled in a starter checklist form, you might find you’ve been put on the wrong code.
When this happens, the tax office will automatically place you on the emergency tax code until you contact them, which is what one Martin Lewis fan decided to do.
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The reader’s success story was featured in this week’s MoneySavingExpert newsletter, who discovered she was on the wrong tax code.
She said she is “over the moon” to get a rebate after checking her tax code and making a simple phone call to the HMRC.
“Huge thanks for the tax code tip in last week’s newsletter,” she explained.
“Checked mine this morning and called HM Revenue & Customs thinking it didn’t look quite right.
“A £465 rebate’s on its way. I’m over the moon.”
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 should I do 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.
If it’s wrong, you should contact HMRC to let it know on 0300 200 3300.
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.
Then, your updated tax code should show on your next pay slip.
How do I know if I’m owed a tax refund?
If you are due a tax rebate HMRC will let you know by sending you a letter called a P800 or a simple assessment letter.
However, 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, which 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.
Martin Lewis has previously urged anyone who has moved house since 1993 to check if they can get a council tax refund.
He also explained how Russia’s invasion of Ukraine could impact your energy bills.
Plus, millions of households can get a £150 council tax rebate to help ease the burden of rising bills.
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