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Tax code BR CUMUL for 16 months
 
            
                
                    BOATRACE                
                
                    Posts: 20 Forumite
         
             
         
         
             
         
         
             
         
         
             
                         
            
                         
         
         
             
         
         
            
                
                                    
                                  in Cutting tax             
            
                    Hi
I hope this is the right thread (my first post)
I took early retirement back in Jan 10 but returned to work 15 hours per week. I have a small pension which is taxed at source 20% but since Jan 10 I have been on this tax code BR CUMUL
I have phoned the tax office and they have given me another code of 549L and also put my pension tax onto my wages ( i think this is what they mean) I asked if I had paid too much tax but she says that they will not know until June.
Can anyone say if I have overpaid or Underpaid
                I hope this is the right thread (my first post)
I took early retirement back in Jan 10 but returned to work 15 hours per week. I have a small pension which is taxed at source 20% but since Jan 10 I have been on this tax code BR CUMUL
I have phoned the tax office and they have given me another code of 549L and also put my pension tax onto my wages ( i think this is what they mean) I asked if I had paid too much tax but she says that they will not know until June.
Can anyone say if I have overpaid or Underpaid
0        
            Comments
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            you have separate taxcodes for your pension and a tax code for your job
 If you started your pension in Jan 2010 then there are three tax years to consider
 2009-2010
 2010-2011
 and the current year 2011-12
 we would need to know the amount of your two incomes for each tax year and the tax paid to advise and the tax codes0
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            Hi
 I dont have all that information, what I have is:-
 Jan 2010 £15893.08 tax code 659L CUMUL
 also in Jan 2010 £562 tax code BR CUMUL
 My small pension is paid after tax at £170 per month.
 March 2011 £11762.92 tax code BR CUMUL tax paid £2352.400
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            in the tax year 2009 -2010
 are you saying you had no income from april 1009 to jan 2010
 and then were paid 15,893 gross from source A ...how much tax was paid?
 and then were paid 562 gross from source B or was that A and paid 20% tax i.e. £11.24
 and then received a pension gross of 212 paying 20% tax of 42.5
 and then received the pension again in February and March
 and in march you received gross of 11,762.92 and payinf tax at 20% of 2352
 did you receive any benefits in kind during that tax year0
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            Hi
 I only have payslips from April 09 but it was Jan 10 when I retired and started back on 15 hours. I got two payslips because it was half way through the month.
 From April 09 to Jan 10 my salary was 16853.76 tax paid 2078.60 and tax code 659L CUMUL. From Jan 10 my tax code changed to BR
 From April 10 to March 11 my salary was 11762.92 tax paid 2352.40
 and tax code BR CUMUL0
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            The 562.28 in Jan 10 was taxed at 112.40
 Pension has been paid since Jan 10 after tax of 20%0
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            tax year 10/11
 your gross income from employment was 11,762.92 and your tax was 2,352.40 i.e. BR
 your pension income was gross of 212 x 12 = 2550 and taxed at 20% ie. you paid tax of £ 510
 so you paid too much tax as you didn't have any personal tax allowance by 6475 x 20% i.e. £1,295
 I can't understand what you are saying about the previous year0
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