Right, so I twigged quite a while back that my tax code was wrong on my payslip. Today I finally decided to do something about it.

The code I have (and checking through historical payslips, have had since I began the job in April 2011) is BR. Basic Rate. All income taxed at 20%.

So I rang up HMRC and gave them some details and they said they would send me a recalculation and a cheque for any amount due. So I’m trying to work out in advance how much I might get back.

Have I got this right?

For the period April 2011-April 2012 the tax free allowance was £7475 and since I have no taxable benefits I should be due back the 20% tax I paid on that first £7475, correct? =£1495.

Then since April 2012 until now the allowance is £8105 so I should get 20% of that first £8105 back too? =£1621.

So very roughly in the region of £3000 total.

Is that approximately right or am I being a complete moron?

You are overstating the 2012-date amount. It would be £8105 for the full year.
Edit: you should also get some interest.

According to herself that’s correct (if you paid that amount of tax at the time). Check that the tax amount you paid on your whole wage was 20%.

Ok yeah I did wonder about that part.

So it’s closer to 6 months worth – (8105/5)*0.2 = £810.5?

I’m sure it’ll be enough for a new bike 😆

Yes, your calculations look about right, although you’ve worked out the 2012/13 rebate for a full 12 months, but we’re only 9 months into the tax year

I thought I was due about £3k. I’ve just got off the phone to them and I’m getting £340.

My maffs bad iz.

Are you being taxed PAYE? If so usually payroll lets you have the prorata (week, month) of the allowance tax free and then deducts tax on the rest.

If you take you total gross pay for whatever period, take off the prorata allowance for the same period (eg as druidh said, 9 months worth of this year’s allowance) then you’d pay 20% on what’s left. Whatever you’ve paid over this, is what you’re due back.

No new bike for Pook then 🙁 but perhaps some new forks, with enough left over for a calculator?

New bike 😀

This is brilliant, I’ll get a cheque through the post and the missus will know nothing about it 😆 It’s a bit like a secret savings account.