Tax code 503L W1

gelato_cat

Mikeyorks wrote:

Fortunately never been there ..... but not at all nice.

It wasn't nice at all. And the reason for them choosing that date as the date of termination of my employment was to make me believe that I couldn't file a grievance as my employment ended (they told me in my final meeting that it would end on April 30th, then once they realised I was going to file a grievance they changed their minds). Only got statutory redundancy pay too (good thing I had savings)!!! After pulling in £millions-worth of contracts! I'm glad to be shot of them. I did get a bit of comeuppance when the bosses got two people to ask me how to use the contact management system though... serves them right for telling me to F while forgetting about a handover as far as I'm concerned.

Mikeyorks wrote:

OK. If they paid you some money in this tax year - that rather closes the gap on the unused allowances. That's the bad news.

But the good news (hopefully) is that Code 529L is above the norm. You somehow appear to have around £260 more personal allowances than most of us (pension / contribution to professional body etc ??). If the entitlement to that extra didn't lapse with the job you left in March - then you will have been overpaying tax since May.

It will continue - hopefully - it's for my membership fees for the Chartered Institute of Marketing which will continue to be paid every year (whether by me or by my employer).

Mikeyorks wrote:

Only at the relative margins - but you should be due to a smallish refund / reduction when HMRC replace your current code with a cumulative one. Particularly if that is 529 rather than the more normal 503.

Would be nice!

Mikeyorks wrote:

Bit of a daft aside !! Throughout this I've mentioned 'weekly' pay - but it's always struck me you don't sound like a 'weekly' girl.

"Always" struck you??

Mikeyorks wrote:

If that makes any sort of perceptive sense? And you mentioning 'monthly' pay in this last post seems to confirm that.

It's actually a mixture My last co paid me monthly. When I got made redundant I had to take my current job, which is with a big co but I'm employed through an agency and get paid weekly (which is very nice - not sure how I'm going to adjust to only getting money once a month again)!

The job I am starting next week is the same one I am doing now, but on a permanent basis, working directly for the organisation And they pay their employees monthly.

Mikeyorks wrote:

The sole reason is you quoted 503 W1 in your original post. The monthly equivalent would normally read 503 M1 - or simply 503 1. So it's not a fixation I have with having 52 rather than 12 in a year - there was a reason behind it;)

Heh!

Suze

Mikeyorks

Suzey wrote:

"Always" struck you??

Always - as in 'throughout the duration of this thread'. It didn't have a 'weekly' tenor (as in vibes - not singers) to it.:p

gelato_cat

Oh I see! I thought you'd seen some of my other posts or something.

Thanks for all your help. Hopefully all this will be sorted soon. Even if I don't get a nice big refund, I do get approx a week's unused holiday pay on top of my wages next week

Suze

Mikeyorks wrote:

Always - as in 'throughout the duration of this thread'. It didn't have a 'weekly' tenor (as in vibes - not singers) to it.:p