Tax code 603 L

DGJsaver

Is this an emergency code ?

Also , does anyone know the emergency tax rate as opposed to the usual tax rate ?

Cheers

fengirl_2

603L is emergency code if it is being operated on the week 1 or month 1 basis. E code just means that your employer does not know your previous pay and tax as you have not handed them a P45. The rate of tax charged is the same as for everyone - 20%. However, previous pay and tax is not taken into account, so any refund accruing to you cannot be paid until the week/month 1 basis is removed by HMRC.

PasturesNew

603L is the usual code for a normal single person. If the payslip says 603L and either W1 or M1 then it is being used as the emergency code. This will most likely occur if you've started a new job and signed a P46, so it's your main income and they've not yet updated their system with your correct code.

DGJsaver

i have been with this employer for ages , should i still have the 603L tax code ?

WestonDave

If you don't have any reason why you should have more or less tax allowances than normal then yes you should be on 603L.

prettypennies

My code has changed recently from 543L to 603L. It is something to do with the amount you can earn before tax. Explanation here:
http://www.paypershop.com/faq/taxmean.html

jumpycheese1

603L tax code is the one with the personal tax allowance. When I was on emergency tax, the tax code used there was BR - so I got a fifth of my pay deducted without any allowance.

http://www.hmrc.gov.uk/rates/it.htm

hippey

WestonDave wrote: »

If you don't have any reason why you should have more or less tax allowances than normal then yes you should be on 603L.

Yes, as already said - 603L is the basic tax code. You Get £6030 tax free, then at the Low rate after that (until you get to 40% tax) hence 603 L

But wtach for the Week 1 Month 1 indicator, sometimes that will be used by employers on a non-cumlative basis, if in doubt ask you payroll department, it sometimes gets missed.

The tax code before September was 543L, it was altered to allow for the 10% band to be fixed for this year.

fengirl_2

jumpycheese - code BR is not emergency code - it is basic rate tax and is used when you have a second job.

kelloggs36

It was increased due to the 10p tax debacle - remember? It is the new rate for this year - it will more than likely go down or remain the same from April next year - can't see them putting it up more!!

Lauram

Hi,
My code has changed from 610L to 710L what does this mean and how do I know I am paying the right amount of tax?
Thanks