tax codes,whats 461L & 461L/1 ??
Discussion
Check this link out, more info than the mortal man can bear on tax codes:
www.inlandrevenue.gov.uk/leaflets/p3.htm
www.inlandrevenue.gov.uk/leaflets/p3.htm
Neither of those are emergency tax.
461L is a regular tax code - and 461L/1 is almost certainly the same but on a week 1 basis, ie no prior earnings are taken into account and the tax code is divided by the pay period and applied to the wages without calculating a running total for the year.
I hope this is clear.
You may wish to check with the revenue if the employer has got your tax codes right however - the standard tax code is 474L and last years was 461L. You could be paying a smidgen too much tax!!
461L is a regular tax code - and 461L/1 is almost certainly the same but on a week 1 basis, ie no prior earnings are taken into account and the tax code is divided by the pay period and applied to the wages without calculating a running total for the year.
I hope this is clear.
You may wish to check with the revenue if the employer has got your tax codes right however - the standard tax code is 474L and last years was 461L. You could be paying a smidgen too much tax!!
the 'emergency' tax code is 461L, week1!
If you're still on a week one basis did you give your new employer a P45? If not, fill out a P46 and sent it to the revenue, or contact them anyway and see if they can sort you out?
Failing that, hang fire until April when the Week 1 will drop off and you can then chase the tax office for a possible refund when you have your P60
If you're still on a week one basis did you give your new employer a P45? If not, fill out a P46 and sent it to the revenue, or contact them anyway and see if they can sort you out?
Failing that, hang fire until April when the Week 1 will drop off and you can then chase the tax office for a possible refund when you have your P60
Adequately answered already.
461L was the Code for 2003/04 and 2002/03. It is essentially the Personal Allowance for those years of £4,615.
The 2003/04 code is 474L, equating to Personal Allowances of £4,745.
Children have no impact on your personal tax allowances or coding. If you are entitled to any relief for your children, you should be making a separate claim under the Child Tax Credit system which (despite its name) has nothing to do with tax or PAYE - although it is administered by the Inland Revenue.
461L was the Code for 2003/04 and 2002/03. It is essentially the Personal Allowance for those years of £4,615.
The 2003/04 code is 474L, equating to Personal Allowances of £4,745.
Children have no impact on your personal tax allowances or coding. If you are entitled to any relief for your children, you should be making a separate claim under the Child Tax Credit system which (despite its name) has nothing to do with tax or PAYE - although it is administered by the Inland Revenue.
Smartie said:
the 'emergency' tax code is 461L, week1!
If you're still on a week one basis did you give your new employer a P45? If not, fill out a P46 and sent it to the revenue, or contact them anyway and see if they can sort you out?
Failing that, hang fire until April when the Week 1 will drop off and you can then chase the tax office for a possible refund when you have your P60
Filling out a P46 and sending it to the revenue entitles the employer to pay the employee on 474lWk1 unitll they hear back from the revenue. You cannot pay someone 'non' wk1 just because you've completed a P46...
However, as you say waiting till April will drop the WK1 part but the code will still be incorrect.
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