Tax Codes for 2011/2012

bobpat_2

Hi, has anyone received their codes for 11/12 yet?.

Gas_Powered_Toothbrush

Yes, lots of people have received their codes for 11/12.

[Deleted User]

Yes recieved mine saturday

Bilbobaggins_2

I've got mine and I'm very confused, I thought I would go from 647L to 745L, I work 2 days a week and receive my state pension, I havn't paid tax for 2 years since I reached 60, they have taken my pension amount from £7475 to leave £2168 so they have set my new tax code as 216L, does that mean I will have to start paying tax again? my earnings although not much will be over £2168 for the year .:(

System

Bilbobaggins wrote: »

I've got mine and I'm very confused, I thought I would go from 647L to 745L, I work 2 days a week and receive my state pension, I havn't paid tax for 2 years since I reached 60, they have taken my pension amount from £7475 to leave £2168 so they have set my new tax code as 216L, does that mean I will have to start paying tax again? my earnings although not much will be over £2168 for the year .:(

The state pension is not taxed at source, so that is why they take your state pension off your allowance.

Then the remainder of the allowance is used against any other income you receive. So, if you earn more than £2168 from either a job or a pension, then you would have to pay tax on anything over £2168

If your state pension is £5307 then the tax code seems correct.

Bilbobaggins_2

Thanks for your reply but I dont understand why I havn't been paying tax for the last 2 years when the allowance was less

BoGoF

Bilbobaggins wrote: »

Thanks for your reply but I dont understand why I havn't been paying tax for the last 2 years when the allowance was less

You should have but you seem to be another HMRC mistake where the state pension wasn't included in your tax code when it should have been.

Luckily for you HMRC have agreed to not collect the tax due for 2008-09 and 2009-10 where it is a case of state pension being missed from the code.

Bilbobaggins_2

thanks for that BoGoF, I'm very pleased I won't have to back pay the last 2 years!

F_T_Buyer

What is the default tax code? Is it 747L ?

Also, am I right in thinking it just increases 100 for this year compared to last? I've not received anything from the inland revenue.

Bilbobaggins_2

Yes the default code is 747L, I'm really not very happy going from a non tax payer to a tax payer again:mad:

jem16

Bilbobaggins wrote: »

I'm really not very happy going from a non tax payer to a tax payer again:mad:

You've never been a non-taxpayer - you just benefited from a mistake. You should be happy that you don't have to pay it back.