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question on tax code.

illuminate · 2008-11-21 17:00:17

I have just noticed that my tax code for the whole of 07-08 was 543. That implies a tax allowance of £5430 doesn't it ? Yet according to the HMRC website for that year it should have been £5225. Can I expect a bill ? There is no reason I can think of for this, in fact I actually owed them and settled recently as a seperate…

Comments

Mikeyorks Posts: 10,379 Forumite

24 November 2008 at 7:39PM

illuminate wrote: »

OK ... I think that sounds plausible as I was working from home at that time.

I doubt that's the reason. Otherwise it's a remarkable co-incidence that the increase just happened to round up to the basic code (543) in operation from Apr 08 to Sept 08? (Chancellors extra £600 then pushed it up to the current basic 603.)

Which is why all the early posters were asking you the dates involved.

If you want to test the depth of the water .........don't use both feet !
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