What does 127T VAT code mean? Is it reclaimable?

LiveOnce · 28 February 2018 at 9:29PM

Hi there,

My partner recently started some part time work and their tax code is 127T. They are over 65.

They are currently being taxed, is this reclaimable?

agrinnall · 28 February 2018 at 9:40PM

Very confusing title given that the issue has absolutely nothing to do with VAT.

The T suffix means "When HMRC needs to review some items with the employee". I'd guess a letter will be on it's way with some questions to be answered.

molerat · 28 February 2018 at 10:05PM

It means that HMRC are using 1023 points of their tax code elsewhere. As they are over 65 I assume they are drawing their state and / or other pensions. The state pension amount will be deducted from their tax allowance when used on other employment.

Dazed_and_confused · 28 February 2018 at 11:24PM

They are currently being taxed, is this reclaimable?

What makes you think the tax could be reclaimable? You have given very limited information in your op for anyone to have slightest idea if the tax is correct or not.

It could just as easily be that your partner is on too high a tax code and is building up a tax debt every time she gets paid.

But without more detail it's all guesswork.

What does 127T VAT code mean? Is it reclaimable?

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free