tax code query

freshair_2

Hi All,

I normally post of DFW board but I have a specific tax query.

I have been put on a K tax code, aware that this means they are taking back apparently underpaid tax. However im not sure where this relates to. I have been PAYE for at least the last 6 years.

Last year I became the proud owner of a company car :rotfl:, this was in September, so my tax code changed then as I expected but has just changed again to repay £719 under payment. Is it the case that my tax for my company car has been back dated from September to April? Or am I barking up the wrong tree?

Happy to try and call the HMRC but not sure I have 2 or 3 hours available today to play pick the option on the automated system, so any help would be appreciated.

Thank you very much

CLAPTON

a K code may or may not mean you are repaying underpayment

did you receive a notice of coding explaining the new tax code?

how much are your benefits in kind for this year
how much were they last year
what was you final tax code last year
have you receive a P11d form for last year

freshair_2

Thanks Clapton, I will have a look at all the bits when I get home re taxable benefit etc, but I know I haven't had a P11d yet.

Mikeyorks

freshair wrote: »

but I know I haven't had a P11d yet.

In which case it's unlikely HMRC has either .... your company has until this July to submit it. So are you sure the code change last year related to the car? As it won't be the case unless you specifically notified HMRC.

freshair_2

My code definately changed in September, I received notification, in which case I am assuming that the HMRC have looked at my tax code from the end of the finacial and decided that I haven't paid enough tax for the whole year, as my code changed mid way.

You have both been very kind to respond on very limited information and I will look into the detail more, and also speak to payrole tomorrow when I am in the head office.

sweetietot

If your tax code reduced when your company car was included, it would have been on non-cumulative basis and there will be a note on the back of the notification that HMRC has estimated you will not pay enough tax in the year.
This is probably the underpayment included in your code for 12/13. Once P60 and P11d details are received, they will assess the 11/12 year. If the actual underpayment is less than estimated, your code will be amended.