What is correct Tax code?

rfowler

How would I know what my correct Tax code is?

I did a salary checker and it seems like I am getting paid £70 less a month and it has been like this for about 3 years now, So i want to double check.

I am in full time employment on a perm position.

Mikeyorks

rfowler wrote: »

How would I know what my correct Tax code is?

You look at the P2 (Coding Notice) that HMRC sends to most people most years ....... they issue well over 20M of them annually. It's (now) pretty detailed.

For people under 65 the basic personal allowance is £6475 this year and next. So that translates to a Code of 647. Could be slightly more if you have an allowance for washing uniforms / fees to professional bodies. Could be a lot less if you have taxable benefits in kind (medical insurance / company car etc)??

rfowler

We get private Health Care with Bupa will that lower my tax code?

I think at the moment am on 645L

Mikeyorks

rfowler wrote: »

We get private Health Care with Bupa will that lower my tax code?

It should if your employer is providing it ..... as then it's a taxable benefit. But no effect if you're footing the bill yourself.

rfowler

I used this site and it shows that am geting paid £15 less a month, can this be correct?

http://www.thesalarycalculator.co.uk/salary.php

Mikeyorks

But £15 less than what? What are you comparing to ? If you're going back 3 years (your OP) then rates of tax / NI have changed.

Try this one :-

http://www.listentotaxman.com/

but it can only work on fact. If you have £xxx annual pay and a Code of 645L then it will give you a factual rate of tax / NI deductions. If you're looking for gradual drift over the years ..... you need to go through consecutive payslips and find out what causes the differences?

rfowler

Thanks Mikeyorks