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Tax Code help.
kentona77
Posts: 10 Forumite
in Cutting tax
Hi
I got my wage slip at the middle of last week (24th), but only today when my wife come home after getting paid today (last day of the month) and told me that her tax code had gone up from 543L to 603L noticed that mine was still 543L.
Both our tax codes changed from 522L to 543L for our April pay packet. The only difference is that my company pay for private medical care.
As I don't fully understand the tax codes, can someone tell me if it is correct that I am still on the 543L code or should I be the same as as my wife and my company has made a mistake.
Many thanks
I got my wage slip at the middle of last week (24th), but only today when my wife come home after getting paid today (last day of the month) and told me that her tax code had gone up from 543L to 603L noticed that mine was still 543L.
Both our tax codes changed from 522L to 543L for our April pay packet. The only difference is that my company pay for private medical care.
As I don't fully understand the tax codes, can someone tell me if it is correct that I am still on the 543L code or should I be the same as as my wife and my company has made a mistake.
Many thanks
0
Comments
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Your tax code should have increased by 60 since last month. So if it was 543L in August, it should be 603L now.Did you really mean to put loose?
Lose: no longer possess, not to retain, unable to find
Loose: not firmly or tightly fixed in place0 -
Thank you for that, I will go and get it sorted first thing tomorrow morning.0
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When my husbands company paid for his private medical care his tax code went right down.0
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It can be a question of being late to change or that they have finally processed your P11 and deducted the cost of your private medical care benefit from the 603 that it had increased to.
That happened to me, went up then down when they finally got around to look at the P11. But I always get a letter for every single tax code change they do, don't you?Being brave is going after your dreams head on0 -
You don't always get a letter for a change of tax code IF you are on a basic code, and the rise / fall affects the basic code, this is publised by the chancellor in the budget, and by HMRC who confirms the basic taxable allowance.
This is why this year you won't always be notified of a change to 603L
However if the tax code has not increased by 60 and you have no change in your allowances even if on a low code it is worth asking HMRC why, most codes should have changed. K codes are slightly different.These are my thoughts and no one else's, so like any public forum advice - check it out before entering into contracts or spending your hard earned cash!
I don't know everything, however I do try to point people in the right direction but at the end of the day you can only ever help yourself!0 -
Well I went to see the lady that does our wages and she pointed out something that I missed. My Tax code as I said was 543L and she received a P6 code change from the HMRC changing my code to 542L with effect from 14th September.
It appears that that even though personnel allowances increased by 60 points, mine has gone down slightly.
She suggested that I ring the HMRC, as I have not received a break down of this.0
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