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Help with Tax Code Please
Lisa1978
Posts: 317 Forumite
in Cutting tax
Hi all,
Looking for a little advice.
My tax code was previoulsy 747L. However this year it has changed to 734L. The only thing that has changed in work is that i have received a 'Health Insurance Benefit' which cost the company £110.
Am i being silly thining 7475-7345=£130 = am i actually 'losing/paying over' £130 tax just for my company to provide this benefit?
I appreciate any information/advice.
Thanks.
Looking for a little advice.
My tax code was previoulsy 747L. However this year it has changed to 734L. The only thing that has changed in work is that i have received a 'Health Insurance Benefit' which cost the company £110.
Am i being silly thining 7475-7345=£130 = am i actually 'losing/paying over' £130 tax just for my company to provide this benefit?
I appreciate any information/advice.
Thanks.
0
Comments
-
well you are losing tax relief on 130 so if you are a 20% tax payer you are actually paying 130 x 20% = £26 per year in extra tax0
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