Change of Tax Code

kuhbolt

HI

Can anyone help with this. I have a new tax coding notice for this year 2012/2013. It says 810L replaces 315L for 2012/2013. Does this mean I will get a tax rebate?

Thanks

chrisbur

kuhbolt wrote: »

HI

Can anyone help with this. I have a new tax coding notice for this year 2012/2013. It says 810L replaces 315L for 2012/2013. Does this mean I will get a tax rebate?

Thanks

If it is to be applied on a cumulative basis then your tax will be recalculated for the year and result in a reduction or rebate depemding on the figures. If however it is to be applied week1/month1 then your tax will reduce a bit but no rebate will be paid. Your coding notice should advise if it is being applied week1/month1.

kuhbolt

Great thanks. I can't see anything about Week1/Month1 on my coding notice, would it be in the notes?

zygurat789

kuhbolt wrote: »

Great thanks. I can't see anything about Week1/Month1 on my coding notice, would it be in the notes?

It would typically appear after the 810L. ie 810L W1 or 810L M1

chrisbur

kuhbolt wrote: »

Great thanks. I can't see anything about Week1/Month1 on my coding notice, would it be in the notes?

Last time I saw a coding notice (this was a few years back so may have changed) there was a referance next to the code which refered you to a letter in the notes which said something like, we have applied your code in a special way, and explained how it would work.

I assume that you had some benefit to account for the reduced code, does that benefit still apply to some of your earnings this year, if it does I would have expected a week1/month1 code.

CLAPTON

try reading the notes on the back

kuhbolt

I had a reduced code due to an underpayment:) but now I have received this new code but says nothing about week1/month1

nomunnofun

kuhbolt wrote: »

I had a reduced code due to an underpayment:) but now I have received this new code but says nothing about week1/month1

It would be very odd to restrict your code for an underpayment before removing that restriction and giving you the 'underpaid' tax back again. If 810L (no wk1 or month 1) replaces 315L (no wk1 or month1) and the latterhas been in operation since April 2012, a refund of £907 or so could well arise in your February payslip. (Assuming that you are a basic rate taxpayer).

kuhbolt

Well that's sounds fab although I was also confused as to why I was being coded for an underpayment then have my code changed to result in a refund. Oh well maybe I will just wait and see if there is a nice surprise in my pay this month.

Thanks again

Dazed_and_confused

kuhbolt wrote: »

Well that's sounds fab although I was also confused as to why I was being coded for an underpayment then have my code changed to result in a refund. Oh well maybe I will just wait and see if there is a nice surprise in my pay this month.

Thanks again

Might be worth checking then that the new code is actually correct, if nothing has changed re the underpayment then why would this years code change?

CLAPTON

why was there an underpayment ?