Tax code wrong

Sempron

Hey guys,Sorry if this is the wrong place to post this?


Anyway i recently got my P60 and looking at the Tax code on my P60 to the tax code on my Payslip they dont match.

P60 -647l
Payslip-747l

Do i just phone the Tax office and they will sort it? Do i have to tell them anything at work also?
What do you guys think the likely outcome of this will be Hope i dont bloody owe loads back.

antrobus

Sempron wrote: »

Anyway i recently got my P60 and looking at the Tax code on my P60 to the tax code on my Payslip they dont match.

P60 -647l
Payslip-747l

Do i just phone the Tax office and they will sort it? Do i have to tell them anything at work also?

647L was your tax code for the last tax year
747L is your tax code for this tax year

They're supposed to be different, hence there's nothing to sort out.

McKneff

It isnt wrong.

The tax code 647 was for last year which is what your p60 if for, a total of what your earned last year 10/11

The tax code 747 is for the new tax year starting from April 11/12

You dont need to do anything.

paulsad

I rang them once to dispute something and got battered .... :silenced:

Sempron

Oh i see okay,I know nothing about how it works,all i know is they take too blody much from us!:cool:

I rang them once to dispute something and got battered

:think: ????

McKneff

I rang them once to dispute something and got battered.
Sounds a bit 'fishy' to me.lol

Just to explain

Tax last year you could earn 6,470 before paying tax so code 647

This year you can earn 7470 before paying tax so code 747

They divide 7470 by 52 weeks and when they come up with the figure you pay 20% on the rest.

Hope that helps.