My Tax Code changed
Discussion
My tax code for this coming year has changed from the usual 1000L (or 1100L as it is now) to 66T.
Not sure why, though I am assuming that being made redundant and having 3 months out of work before Februrary this year is probably the cause. In my first pay of my new job I even got a tax rebate. But now my code looks a little grim.... the 66 would mean my tax free allowance is now £660 instead of £11000? Bit of a jump!
The T is supposed to mean there are other calculations going on but what these are I do not know!
Should I be ringing these guys up asap?
Not sure why, though I am assuming that being made redundant and having 3 months out of work before Februrary this year is probably the cause. In my first pay of my new job I even got a tax rebate. But now my code looks a little grim.... the 66 would mean my tax free allowance is now £660 instead of £11000? Bit of a jump!
The T is supposed to mean there are other calculations going on but what these are I do not know!
Should I be ringing these guys up asap?
Curious.
£660 isn't too much more than the rebate I got recently. Additionally I just tried to use the HMRC online service and they cannot identify me by my last payslip as PAYE Tax contribution listed on my payslip does not match what they have. When at my last job and we went bust, they did actually issue payslips, but then didn't pay us. Not sure if that would cause problems, assuming they processed the slip, the data will have gone to HMRC but not the money?
Something is amiss.
Will wait till I get home and use my passport for identification so I can get onto their system and see what is what. Likely will have to ring them up though.
£660 isn't too much more than the rebate I got recently. Additionally I just tried to use the HMRC online service and they cannot identify me by my last payslip as PAYE Tax contribution listed on my payslip does not match what they have. When at my last job and we went bust, they did actually issue payslips, but then didn't pay us. Not sure if that would cause problems, assuming they processed the slip, the data will have gone to HMRC but not the money?
Something is amiss.
Will wait till I get home and use my passport for identification so I can get onto their system and see what is what. Likely will have to ring them up though.
PurpleMoonlight said:
In reality it's £11500 + £660 though because you have no personal allowance available.
So they are looking to collect £2400 odd if you are a basic rate tax payer.
In one go or through the year?So they are looking to collect £2400 odd if you are a basic rate tax payer.
ETA.... If I used the online calc right, an extra £2400 on top.....which means despite having a 10% salary increase, I'd be taking home about 6% less than I was in my old job! lol. Best ring them.
Edited by Otispunkmeyer on Wednesday 15th March 16:32
More weirdness
I got online on the HMRCs website so you can see your PAYE tax account. On there they have my next years tax code as 1150L and that I will be earning in excess of £50k/pa (I wish!). I will be paying over £8k in Tax instead of £4.5k. Apparently only paid £2.5k for this financial year, which is wrong and apparently my new job, which I will have been at all of 1.5 months before the new tax year has supposedly paid me taxable income of 7,200 already. Also wrong.
Adding £660 to my monthly salary doesn't get me to the position of 50k so I am confused as to what is going on now.
I got online on the HMRCs website so you can see your PAYE tax account. On there they have my next years tax code as 1150L and that I will be earning in excess of £50k/pa (I wish!). I will be paying over £8k in Tax instead of £4.5k. Apparently only paid £2.5k for this financial year, which is wrong and apparently my new job, which I will have been at all of 1.5 months before the new tax year has supposedly paid me taxable income of 7,200 already. Also wrong.
Adding £660 to my monthly salary doesn't get me to the position of 50k so I am confused as to what is going on now.
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