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new code confusion 9T or 15L??
catford
Posts: 1,114 Forumite
in Cutting tax
My tax code has been wrong since I cashed in a couple of small pensions and it's now finally starting to come together.The nice taxman :rolleyes: has taken me off BR and put me on either 9T or 15L, Not sure which because I have 2 paye notices which arrived together.:eek:
Can anyone tell me what these codes mean in terms of how much tax per pound I will pay etc??
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The suffix T is often used if you are entitled to the higher personal allowance for over 75s. It can also be used to mean temporary and means that HMRC are looking at your code.
Suffix L simply means that you are entitled to the lower personal allowance.
The number in front is what is important. 9 means a personal allowance of £90 and 15 means a personal allowance of £150. So you will either get a tax-free allowance of £90 before paying tax or £150.
Tax will be paid at 20%.
Do you have more than one source of income? For example state pension and private pension?0 -
The suffix T is often used if you are entitled to the higher personal allowance for over 75s. It can also be used to mean temporary and means that HMRC are looking at your code.
Suffix L simply means that you are entitled to the lower personal allowance.
The number in front is what is important. 9 means a personal allowance of £90 and 15 means a personal allowance of £150. So you will either get a tax-free allowance of £90 before paying tax or £150.
Tax will be paid at 20%.
Do you have more than one source of income? For example state pension and private pension?
Yes, I have 3 very small pension incomes. Due to personal circumstances I had to take the cash values and a small pension .The total income is less than £200 per month.
I work 27hrs a week but for some reason the IR decided that my pension was my main income and proceeded to tax my main job at BR.
They didn't tell me about about it until I queried the code:eek:
The leaflet explaining it all may as well be written in venusian for all the help it is.;)
and at the end of the day I still have to pay my mortgage and feed the kids. It makes me wonder why I bother to work at 60+ .;)
A personal allowance of either £90 or £150 is taking the p*ss and just goes to prove what a crappy tax system we have.:mad:
By the time it gets sorted out I will be homeless and broke or dead :rotfl::rotfl:0 -
A personal allowance of either £90 or £150 is taking the p*ss and just goes to prove what a crappy tax system we have.:mad:
It's not that you only have a personal tax allowance of £90 or £150. You have the same personal allowance as everyone else - £6035 if under 65 - but it has been adjusted to take into account either tax owing or taxable income that cannot be collected under PAYE.
What is your total income from your job and your 3 pensions? How are the 3 pensions taxed?0 -
It's not that you only have a personal tax allowance of £90 or £150. You have the same personal allowance as everyone else - £6035 if under 65 - but it has been adjusted to take into account either tax owing or taxable income that cannot be collected under PAYE.
What is your total income from your job and your 3 pensions? How are the 3 pensions taxed?
Total income is roughly 13k. 2 pensions taxed at source and one is being sorted out now which is probably the problem although the figures have been with the revenue for ages,;)
Thanks for the help--pity the tax office can't do that.:T0 -
Total income is roughly 13k. 2 pensions taxed at source and one is being sorted out now which is probably the problem although the figures have been with the revenue for ages,;)
From the sound of it, each pension should have a tax code of BR. Your job should have the normal tax code of 603L (assuming you are under 65?) as you seem to be earning about £10,600 per annum. That way it should all work out.
However I would imagine that you have paid too little tax because the pensions have been taxed wrongly and they have adjusted the tax code to get it back.
What tax codes have been assigned to the two pensions?Thanks for the help--pity the tax office can't do that.:T
They are usually very good if you phone and ask them to explain what is happening.0 -
From the sound of it, each pension should have a tax code of BR. Your job should have the normal tax code of 603L (assuming you are under 65?) as you seem to be earning about £10,600 per annum. That way it should all work out.
However I would imagine that you have paid too little tax because the pensions have been taxed wrongly and they have adjusted the tax code to get it back.
What tax codes have been assigned to the two pensions?
They are usually very good if you phone and ask them to explain what is happening.
I phoned them today to try to clarify what was happening and they were extremely unhelpful :mad::mad:--My code will be as you said. When I asked when, they told me to phone again in 28days.
I can't even get an alternative to the 0845 number to make it cheaper.
Thanks anyway0 -
You could always ask the pension companies what tax code they are using and go from there.0
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Please help!!! Over the last 11 years since the last desition was made on the council tax band for my home and street....my neighbours have had much work done on there various properties....I am now wondering if the likelyhood is that they should be paying more or I should be paying less community tax and how should i proceed????/0
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Please help!!! Over the last 11 years since the last desition was made on the council tax band for my home and street....my neighbours have had much work done on there various properties....I am now wondering if the likelyhood is that they should be paying more or I should be paying less community tax and how should i proceed????/
Please start your own thread rather than hijack someone else's. It gets too confusing and is not fair on the original poster.0
. The code will be sorted in their own sweet time and not before. Public servants are not accountable :rotfl: This discussion has been closed.
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