yeo
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« on: Monday, January 25, 2010, 01:31:21 » |
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I got a letter from the Tax office saying my Tax code for next year is changing to BR.
Why would they suddenly change it to that?
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Simon Pieman
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« Reply #1 on: Monday, January 25, 2010, 01:33:52 » |
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Do you have a second job?
It means Basic Rate at 20% but you don't get a personal allowance as that is used up in the other job.
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Simon Pieman
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« Reply #2 on: Monday, January 25, 2010, 01:35:58 » |
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Forgot to say I looked that up on HMRC
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yeo
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« Reply #3 on: Monday, January 25, 2010, 01:36:44 » |
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No ive only got 1 job, the only thing thats changed is im doing a few more hours and getting a sporadic bonus but I dont earn big money or anything.Its got to be wrong hasnt it.
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Simon Pieman
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« Reply #4 on: Monday, January 25, 2010, 01:39:42 » |
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It's nothing to do with big money Yeo, it's basically saying you get no personal allowance on that income so you pay tax on all of it. It's wrong as you pointed out.
Ring them up pronto and enquire with your employer too.
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jayohaitchenn
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« Reply #5 on: Monday, January 25, 2010, 09:13:04 » |
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I got that letter as well. I rang up HRMC and they said they had made a mistake and I was on their records twice. All they need is your payroll/employee number and they can fix it.
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Batch
Not a Batch
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« Reply #6 on: Monday, January 25, 2010, 10:07:17 » |
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Confusingly my tax code for next year (2010-11) is 534L (personal - medical insurance). They say that this will be forwarded to my previous employer (why?) and that it will be used to work out my tax when I come off of jobseekers allowance.
So, and I know I should know this, are they working it out a year in arrears so the medical insurance deduction is for LAST year. Or what? Only my next employer just gives a cash % above base salary and lets me get my own insurances as I see fit.
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nevillew
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« Reply #7 on: Monday, January 25, 2010, 13:19:00 » |
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Batch, I'm no expert, but your code for 2010/11 will be based on the same assumptions as previous, so if you're no longer receiving private medical insurance it'd be worth ringing the tax office and letting them know, so they can adjust the 2010/11 coding.
Your previous employer will have to inform HMRC by July what your benefits in kind (PHI) were for 2009/10 tax year so if you left during the year you may well see the value of your benefit fall, and your coding for 2010/11 being adjusted upwards to compensate.
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Paolo Di Canio, it's Paolo Di Canio
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Batch
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« Reply #8 on: Monday, January 25, 2010, 13:28:06 » |
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ta.
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Ardiles
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« Reply #9 on: Monday, January 25, 2010, 16:39:31 » |
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Simon Pieman
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« Reply #10 on: Monday, January 25, 2010, 21:24:48 » |
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I always check my pay on listentotaxman.com when it varies from the norm, it works out what you should be getting
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Power to people
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« Reply #11 on: Tuesday, January 26, 2010, 13:55:42 » |
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Ardiles
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« Reply #12 on: Tuesday, January 26, 2010, 14:10:56 » |
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swindon_chick
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« Reply #13 on: Tuesday, January 26, 2010, 14:18:24 » |
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I was on BR for a while 2 years ago. When I realised I was on emergency tax I got a nice £1080 rebate!
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Spy
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« Reply #14 on: Tuesday, January 26, 2010, 17:50:30 » |
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My pay the other day was emergency taxed cos my previous employer was slow sorting out our P45s. We're getting the money back in next months pay.
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