Tax Code question - moving jobs

Popeye84

Hello all, not sure if this is the best place to post but will give it a go.

I am due to move jobs in the next month and I was trying to work out what my new tax code would be.

I currently have a company car but in my new role I will not have this benefit. However on previous years I have underpaid £1324.75 in tax on the car so I was given a K365 code to go from 6 April 11 to 5th April 2012.

Would it be possible to advise what my new code would be at all? Any help would be appreciated as I struggle to understand the tax systems!

Many Thanks :beer:

molerat

Probably around K27. Underpaid tax = restriction of £6623 and car worth £4507?. 1/4 of car (Apr-Jun) = 1127 + 6623 = 7750 - 7475 = 275

Popeye84

Thanks for the info molerat...got to be honest it wasnt the news I was hoping for as I thought I would have a better tax code - oh well

molerat

The problem is the biggy of the underpaid tax from previous years, that will not go away. I assume the car value was about correct ?

Popeye84

To be honest I think the car is probably valued at around £7k.

If I call the Tax office (and wait on hold for an hour) will they be able to tell me what my new coding would be?

Thanks

zygurat789

The value of the car for benefit purposes is the LIST price (new) on the day before its first registration. £7K sounds a bit low.