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Basic

How to work out if I've paid too much tax?

To work out accurately if you have paid too much tax, and whether or not you are due a repayment, you will have to work out your tax liability and compare this to how much you have paid.

What information do I need?

To start with, you will need to gather all the information about your income and tax position. This may include the following documents for the tax year:

  • P60 and / or P45 from an employer or pension provider
  • P11D from an employer
  • Details of taxable state benefits received
  • Bank statements or certificates of tax deducted
  • Building society statements or certificates of tax deducted
  • Dividend certificates
  • Details of rental income and expenses.

How do I work out my tax liability?

We set out an example tax calculation and explained the steps involved in calculating your tax liability on our page, ‘How do I work out my tax?’

To work out your tax liability, you first need to calculate your taxable income. You must include the gross amounts in your calculation, that is, the amounts before tax is taken off.

You may be able to deduct certain expenses or claim allowances against your gross taxable income.

You need to calculate your tax liability using the correct rates of tax, and you can then deduct the tax you have already paid, for example, under PAYE, to work out your tax overpayment or underpayment.

For further assistance you can contact us on 01308 488066 or via the secure email link on this website. A tax adviser will check your personal situation, help you resolve it or guide you in the right direction.

Posted in: How do I work out if I have paid the correct amount of tax?