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Tax code

AdamB
AdamB Posts: 133 Forumite
On my payslip it shows the tax code as 543L. Shouldnt this be 603L? I have always received the basic personal allowance and nothing has changed as far as I know to lower my tax code. Does it mean my employer hasnt updated the tax codes when the Govt was forced to increase the basic allowance?
Bank charges reclaimed: HSBC £1990

2007 Competition Challenge: Target £150
So far...£373.48 (MS Office 2007 Professional Edition) and a rizla tin

I smell roses, but all I hear is flies

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    In september your tax code will change to 603L
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  • katiejones
    katiejones Posts: 696 Forumite
    why is this - my hubby has got the same thing on his payslip
    Wins in 2013 - Jan - Heinz No Noise Ketchup.
  • jem16
    jem16 Posts: 19,890 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Simply because the Chancellor decided that the new allowances would be effective from September. At the moment it's £5435 so tax code of 543L - in September it will change to £6035 so tax code of 603L.
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