Income Tax code change. Help.

NewbieMoneySaver**

Hi all. Just need clarification.

I have just asked for a rebate for petrol expenses and got letter back. Tax code changed from 620L up to 647L. Can anybodt actually tell me how much more that means please.

Thanks.

System

Actually that sounds as though that could be your tax code for 2009/2010 as the personal allowance for next year is £6475. Check the top of the PAYE coding notice.

See here - http://www.hmrc.gov.uk/rates/it.htm

CLAPTON

your code means that your personal allowance increases from 6209 to 6479 i.e. by 270.. so if you are a 20% tax payer then that means you will pay 270 x 20% i.e £54 less tax.

NewbieMoneySaver**

Thanks for the bad news. lol. I got all excited. Oh well. I will have to wait to see if they do change my code or whatever for the petrol claims.

Cheers