Does anyone know what tax code 607L IS?

ceeforcat

Fengirl - I have never before had any cause to question your valuable advice and hope you continue to provide same. Unfortunately, I also spent some time in the Inland Revenue and twenty years since as a tax adviser. Quite simply 603L is the current emergency code i.e. in the absence of information this is the code to be applied. This emergency code may also be applied on a Week 1 or Month 1 basis. The following has been directly copied from the HMRC website.

'The emergency tax code is set each year and is a number followed by the letter L. The number is the basic Personal Allowance (£6,035 for the tax 2008-09) divided by 10. The emergency code for 2008-09 is therefore 603L.
Depending on how it's worked out, you might also see '603L W1' or '603L M1' (meaning 'Week 1' or 'Month 1' - whereby you get a proportion of the Personal Allowance over the remainder of the tax year).'

chrisbur

If we look at the emergency code as a tax allowance that the employer is allowed to issue to a new employee pending the tax office looking at that employee's tax position and issuing them with a correct code; then it makes sense for both the cumulative and the non-cumulative codes to be called emergency tax codes. Whichever is given to the employee it may be changed by the tax office, and either may occasionaly result in over or under deduction of tax, but will usually be fairly close to correct.

The cumulative and non-cumulative 603L codes are both being refered to as emergency codes by the tax office and so telling people that the tax office is wrong or that they are explaining things badly is only going to confuse anyone looking for help on this forum.

I assume that the wording used by the tax office changed at the same time as the wording on the P6 declaration which allowed the cumulative emergency code to be issued to more people.

McCalls

I'm still a bit lost. I started a new job on April 7th, and had previously had a fulltime job up until 30th March. My tax code has been 603L since I started even though I handed in my P60 whatchamacallit. My company are frankly !!!!! with administration, and my boss is currently doing the payroll as our administrator is on long term sick and is as much use as a chocolate teapot, so I very much doubt i'm on the right code?

I earn £25,000 per year.

deefadog

This as my point, with all these posts, it's just not me!!

There are not that many variables but again the goverment still chose to make it so complicated for the average joe (98%) that would like to look at their payslip see a code e.g 6035 S. Then go on to the tax web site type in 6035 S and it will say you are allowed to earn £6035 tax free per year and S mean Standard for a standard employee. or whatever.

If i had 6075 SC - then the £6035 tax free per year and S mean Standard for a standard employee + C (clothing allowance) £40.

It's not rocket science for gods sake!

mrkbrrws

It's not rocket science for gods sake!

I don't think you appreciate the complexity that tax codes try to deal with.

What would the code be under your system for someone over 75, with total income of approx. £25,000, car benefit, untaxed interest and tax underpaid from the previous year. Oh and the employee's going to be a bit annoyed if you give some of those details away to his employer!

deefadog

That's true, so a simple account number with the tax code would be helpfull, so you could log in to the tax site and see your info?

CLAPTON

McCalls wrote: »

I'm still a bit lost. I started a new job on April 7th, and had previously had a fulltime job up until 30th March. My tax code has been 603L since I started even though I handed in my P60 whatchamacallit. My company are frankly !!!!! with administration, and my boss is currently doing the payroll as our administrator is on long term sick and is as much use as a chocolate teapot, so I very much doubt i'm on the right code?

I earn £25,000 per year.

I'm very much surprised that you were on 603L from April as that has only become the standard code since 7 september 2008... maybe you just happened to have additonal tax allowances of 600??
Most people would have been on 543L


Also a bit surprised you to gave your employer a P60... usually one would give a new employer a P45 (part anyway)

McCalls

Oh it might have been the P45, it was issued from my old employer as my training post had came to an end. I know it began with P. I've queried my code with my employer and they havnt got a scooby as we're without an administrator at the moment...One of my colleagues is tracking down the HMRC number for me tomorrow. Hopefully there will be a rebate.

I was on 543L previously I think, but earnt £21000 then. I'm now on £25,000 so I don't know if thats had any bearing on things.

lilginge19

hi was wondering if any1 has ever been in this position......

i have been employed by an investor 4 2 an a half years, said employer has basically been forced out by administration as he was laundering the money so now wer in the hands of another company who have just informed us that we hav had the wrong tax code.....we still havnt recieved this years p60 (thats how bad our previous owner was) and last years p60 was a photocopy which i didnt receive at all back then either??

wat can i do??

any help gratefully received x

trevormax

You probably should have started a new thread instead of adding to the end of an old thread.

To answer your question though, you can call the tax office that holds your records. Which tax office this is will depend on your current emnployers reference (although you might be in luck as I think the new systems they started using a few weeks ago will allow any office access to your record now).

HMRC should have on their records what tax you have paid for the past 6 years. You can ask them to do an informal calculation based on the info they hold.

If your last employer was "forced out" due to money laundering, and they have been using the wrong tax code, I would be a little worried that he hasn't been paying tax and NI for you either. Also I think it is a legal requirement for employers to provide a P60 each year.