New tax code query

gorbyuk

I wanted to know if anyone could tell me roughly what the difference would be for take home pay due to a tax code change? I'm presently on a 502L which I've just been informed changes to a 957L on 6th April I know without specifics it's hard just wondered if anyone could give me an idea for instance £20 a week

nomunnofun

You will pay £910 less tax per year (£75.83 a month or £17.50 per week). This is on the proviso that you earn at least £9579 per annum and are a basic rate taxpayer. If not, please let us know what your basic salary will be from April.

jem16

gorbyuk wrote: »

I wanted to know if anyone could tell me roughly what the difference would be for take home pay due to a tax code change? I'm presently on a 502L which I've just been informed changes to a 957L on 6th April I know without specifics it's hard just wondered if anyone could give me an idea for instance £20 a week

About £17.50 per week more.

Why is your current tax code so low?

notanewuser

Assuming those codes are right, and that you earn more than £9500 and less than £40k per year, £910 per year or £17.50 per week.

nomunnofun

jem16 wrote: »

About £17.50 per week more.

Why is your current tax code so low?

And why is it so high for next year?

gorbyuk

My basic is £16286 I have no idea it was changed last year after a notification letter similar to the one that arrived today that's great news for a change!!

jem16

nomunnofun wrote: »

And why is it so high for next year?

It's not as high as it is low.

Next year's normal tax code is 944L so 957L is only £130 higher - could be uniform washing allowance.

This year's tax code is 810L so 502L is £3080 less.

notanewuser

gorbyuk wrote: »

My basic is £16286 I have no idea it was changed last year after a notification letter similar to the one that arrived today that's great news for a change!!

You need to find out why the codes aren't 'standard'. What does the letter say?

jem16

gorbyuk wrote: »

My basic is £16286 I have no idea it was changed last year after a notification letter similar to the one that arrived today that's great news for a change!!

So what did the notification letters ( ie P2 Coding Notice) say in each case?

A deduction of £3080 is a lot for this current tax year.

nomunnofun

gorbyuk wrote: »

My basic is £16286 I have no idea it was changed last year after a notification letter similar to the one that arrived today that's great news for a change!!

There would be a breakdown of the code number on the form for 2013/14, presumably a P2. It will state personal allowance 9440 plus, I would guess, some other figure with a designation that takes it up to 9575 or so.

nomunnofun

jem16 wrote: »

It's not as high as it is low.

Next year's normal tax code is 944L so 957L is only £130 higher - could be uniform washing allowance.

This year's tax code is 810L so 502L is £3080 less.

You are absolutely correct of course and this year seems very strange. I was just interested in making sure that next year's code was correct also.