HarryTaxD

I am on a cumulative code. So why was I taxed at 40% at all? Are the calculations not done until the next paycheck? Thanks!

Most of the year my pay was under £50k annually, I have now received a pay rise meaning I earn over £50k. This month I paid 40% tax on what I earnt about £50k. However, overall my actual pre-tax amount this financial year will be less than £50k. Will I get a tax rebate at the end of the year?