New Job

joeblack066

503L is standard tax code for employed people not in a higher earnings bracket. Emergency is shown as BR (Basic Rate).

lavidaloca

joeblack066 wrote:

503L is standard tax code for employed people not in a higher earnings bracket. Emergency is shown as BR (Basic Rate).

Emergency code is 503L W1 or M1 depending upon whether weekly or monthly paid. BR is the rate used when you have more than one job. Did you give your new employer a P45?

krayzechick

lavidaloca wrote:

Emergency code is 503L W1 or M1 depending upon whether weekly or monthly paid. BR is the rate used when you have more than one job. Did you give your new employer a P45?

yeah ive been with them for over 2 years! I was on BR for about a month when I started then it was changed over... does this mean ive paid too much tax? *googles*

krayzechick

I'm confused! :think: I went onto a tax code checker website and according to that im correct for my earnings.

one website says:

Tax Codes

Basic Rate (BR)
You are put on this tax code when you have not handed in a P45 or a P46.If you are on this code you will be taxed 22% of your salary.If you are on Basic Rate, please either send in a P45 or ask your Consultant to send you a P46.

503L Week 1
If you are on this tax code, when working out your tax-free allowance the tax office will only look at the particular week for which you are being paid.For example, if there was a week when you didn't work the tax office will not take this into consideration. If you are on this tax code you need to phone the Inland Revenue and ask for a ‘Notice of Coding'. A copy will be sent out to you and the Inland Revenue and your tax code will be amended. You will receive a tax rebate once the Inland Revenue have received the forms.

503L/Cumulative
This will just show on your pay slip as 503L and is the 'Single Person' tax code.You will get £5030 per year tax-free.On this code the rate of tax is the same as above but when calculating your tax-free allowance the tax office will look at your pay and tax year to date.They will take into consideration any weeks that you didn't work and therefore didn't receive any tax-free allowance.

but HMRC says:

Emergency tax code
The emergency tax code is 503L.




I *think* i'm on the right one being that i'm a single ordinary(??) person!