Tax code K1122

rookums

Hi

I have received a tax notification which said my previous tax code was K1122. Any ideas what this is?. I have googled and looked on the government tax site but can't find it.
I have an ordinary job earning £16k

SueMaggie

This page on the HMRC website explains K tax codes.

http://www.hmrc.gov.uk/incometax/codes-basics.htm#3

Someone much more intelligent than I will probably be along in a minute to explain a bit more about how you can end up with a K code.

saverjab

A 'k' tax code usually means you have some kind of company perk eg a car or you owe them I think . The revenue add money on to what you earn and then work out the tax on the total. They should have sent a form to tell you how they've worked it out, if it's for next tax year 10/11 then you've got time to sort it out before your employer uses it in April. Have a look at the letter they've sent to see what info they have on you.

Mudd14

As above a K code is where your taxable benefits in kind are more than your tax free allowance. If you have never recieved benefits in kind I would suggest this is wrong.

zygurat789

It means you will pay tax on an income of £27,220 and all this will be deducted from your salary of £16,000.
If you don't understand why ring the tax office, the phone number should be on the notification you have received.

Mikeyorks

rookums wrote: »

Hi

I have received a tax notification which said my previous tax code was K1122. Any ideas what this is?.

It's a fairly massive negative personal allowance .... sure you haven't added an extra '1'?
If you look on the notification (P2 ?) .... it explains it.

John_Pierpoint

It is not one of these computer conversion faulty codes is it?

Quote "Some people with taxable benefits are being charged double................"

rookums

hmm - something is wrong here. I phoned the tax office and they were very vague. I asked them to explain the code and they couldn't!!. They just said they would update my details. I have had no benefits at all ( car, medical insurance etc).
I asked if I was due a rebate and they said to phone my work and tell them the code should be 647L and it should be sorted out in my pay.
Very vague and not very encouraging - good to see HMRC know what they are talking about when you phone them!!!!
Thanks for all the replies

suso

On your notice of coding, did it mention "Basic rate restriction"

if it did, then for some reason your employment record has been duplicated and caused the HMRC system to think you are a higher rate tax payer.