40 and Foolish!

NewLeaf_2

727L
that is my code

NewLeaf_2

and Fortune, I have actually once had two letters in the same envelope with 2 different tax codes

NewLeaf_2

Payments Hours Rate Amount | Deductions Amount | YTD & Balances Amount |

---

|

|Regular Salary 6,763.39 | Tax paid 2,129.97 | TotGross 76,941.46 |

|Car Allowance 600.00 | Employee NIC 425.19 | TxblePay 78,099.67 |

| | G03 GPP St Life 162.32 | NIblePay 78,072.40 |

| | G04 GPP SL (Net 216.42 | Tax Paid 23,900.50 |

| | Jul-Dec ESPP 67.63 | EE NIC 4,063.29 |

| | | ER NIC 10,002.67 |

| | | PENS EES 3,264.51 |

| | | PENS ERS 4,663.62 |



| | This Period: | Loan Balances: |

| | Taxable Pay 7,363.39 | |

| | Niable Pay 7,363.39 | |

| | | |

| | | |

| | | ER Pension this month: |

| | | ER Pens 541.07 |

| | | |

---

|

| Total Payment: 7,363.39 | Total Deduction : 3,001.53 |Net Pay: 4,361.86

As you can see I get paid Monthly and I pay £2197 in tax a month

NewLeaf_2

according to the top of the payslip it is 727L

NewLeaf_2

and I pay £425 a month for NI

NewLeaf_2

oh Gosh am I on the wrong code again

PinotGrigio41

brizzledfw wrote: »

Hi all

Thanks SO much missrir that was really helpful. its the first calculator that would acknowledge my K coding ..never seen it before but yes its because I need to pay them back :eek: Anyway it seems to think that I will be £200 worse off each month from April (and dont lets get started on Child Benefit.. think thats next year's problem)..so there will have to be some adjustments..maybe I can sell the children via a free listing weekend:rotfl:

Hope everyone is well. I need comfort food so its jacket potatoes this eve for us!! baked beans and cheese. Yum

xx

Hee Hee Mrs B, I have threatened to sell the children on ebay on many occasion when they play up !! :rotfl:

PinotGrigio41

NL I wish I could help with the tax code thingy, but I cant. Sorry.

Am sure someone in the know will be along soon, there seems to be plenty of people with lots of knowledge on the subject cropping up to help on your diary.

Sorry I cant help xx

missrlr

Ok you *may* have had deductions from the standard basic amount due to benefits e.g. Health insurance and so on, you need to get the PAYE notification (latest one) and check this and the reasons. Get your accountant to check this too. Basically say you have insurance which is £1000 a year cost you pay tax on that amount at your rate and this is averaged over the 12 months of the following year I.e. say personal allowance is £5k you will have £4k which is £5k less the £1k benefit which is deducted from the whole amount you owe then you start paying tax.

brizzled K codes are evil. Make sure they have it right, check the calculations.

Bobster64

Quick Q, what's jadwiga? Whatever it is, it's expensive. Plus I think you underestimated groceries. How do you shop for £270 a month?