1000LM tax code?

Hi,

I started in my new job on Apr 7 and my new tax code is 1000LM. I thought it was going to be just 1000L but I don't know what the "M" stands for.

Any ideas?

Thanks!

PS: Other colleague who has been in the company for some time now also has the same tax code.

Comments

  • Squeaky91
    Squeaky91 Posts: 16 Forumite
    Hi, changes are your tax code is referring to being month 1, but it is usually written as 1000L M1. It's odd that it has occurred when you've been working with the company for so long, it usually occurs when someone starts a new job part way through the tax year and previous earnings aren't available for the calculation of tax so calculates the tax slightly differently. If this is the case I suggest talking to your payroll department if your have one as it may be they've made an error when processing your wages, if they aren't very helpful then contact HMRC and ask them to send your tax code to the company you work for to ensure from your next pay day you are taxed correctly.

    Ps. Make sure at the end of the tax year you've paid the correct tax
  • Hi,

    Emergency tax code should read 1000L M1, and not 1000LM, shouldn't it?
  • chrisbur
    chrisbur Posts: 4,048 Forumite
    Name Dropper First Anniversary First Post
    It should read M1 or X. You should ask your payroll dept to confirm.

    Different payroll software packages seem to have different ways of showing tax basis, the last one I used showed it as 0 for cumulative or just 1 for non-cumulative, but as you say payroll dept should be able to confirm. If it is for month 1 and any employees who were there pre tax year change are still on this basis they would do well to check it also as most on non-cumulative codes should have been converted to cumulative for the new tax year.
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