Tax Codes

[scoobster999]

Hi all

Hoping someone could throw some light on tax codes?

Was recently awarded a pay raise in December, Feb's payslip has landed and it is not what I was expecting. On looking at tax codes noted mine is 1098L, and having done some digging on the HMRC website wondering why it isn't the customary 1250L?

Not a huge difference, but £100ish a month so a night out somewhere.

I am PAYE, have a dormant limited company and no other income so thinking I am a vanilla tax case?

Any pointers would be great.....

[scoobster999]

Think I may have found the answer - Medical insurance - £111 a month......taxable benefit?

[Richjam]

scoobster999 said:

Think I may have found the answer - Medical insurance - £111 a month......taxable benefit?

Yes removing your reliance on the NHS comes at a price!!!

[Skyedriver]

We were given health insurance at the last place I worked before retiring.
No one asked if we wanted it or the tax that went with it...

I've got a few tax code questions of my own but I'll post them up later.
ie my tax code has been reduced to account for tax on my state pension but surely I can have that tax free if I don't exceed the personal allowance.

[Macneil]

did you get the health insurance at the same time as the pay rise? If your premium is around 110 per month, your tax should be around 25/40 per month depending on your rate?

[bogie]

Didnt you get a coding notice from HMRC when your code changed with the calculation on? I thought that was standard practice.

It is if you are registered online with HMRC. I can just login to my online tax account and check the calculations, and make adjustments as necessary. Its pretty efficient, just message HMRC with any changes and usually within 5 days the code is adjusted and as its all electronic the employer payroll dept notified.