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Tax code
ankspon
Posts: 2,371 Forumite
in Cutting tax
My code is 258L,i receive ESA contribution based and my ill health pension,what does it mean please,
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Comments
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My code is 258L,i receive ESA contribution based and my ill health pension,what does it mean please,
Assuming you're talking about the 2011-2012 (current) tax year, then the standard code would be 747L - reflecting the standard personal allowance of £7475. Because you've been given a tax code of 258L, this implies that you have £4,620 worth of taxable income you're receiving gross.
I'd guess that your ESA is taxable and that it amounts to £4620 a year, and so HMRC have issued a 258L code in respect of your ill health pension. But I am guessing.
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Sounds about right,thanks0
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