765L Tax code?

Evilm

As of April they've increased the allowance to £9,440 (Which would be a 944L code.

Last year it should have been 810L (£8,105) so you had a reduced allowance of £450.

Based on the above this year you have a reduced allowance of £150 and be allowed to ear £9290 before tax is applied).

I'd guess this is to do with an old underpayment and they are amending your tax code to allow for it.

patanne

You need to dig out the letter they sent you and it should tell you how they have calculated your new code and why they have made a deduction. If the letter is not clear enough then I suggest you ring them. I find early morning is a good time for getting an answer.

Jules2012

Sounds like a taxable benefit as you have been notified 2013/14 is also a reduced tax code. If it was to claw back and under payment from a previous year they would normally do it in 1 year.

It is paid for the current year, if you no longer get a taxable benefit in your new employer you need to contact the tax office.

zudecke

What are examples of taxable benefits?

I'm not currently receiving any health benefits or anything like that.. Just pension which hasn't even gone through yet..

chrisbur

The tax code looks like it is being applied on a non-cumulative basis, you can check this on the P45 as it will have an X after the tax code. If that is the case then proberbly your tax code was lowered during the year. If you have old payslips you should be able to see when this happened if that is the case. If that is what happened you should have had a notice from the tax office explaining it, if you have not then you will have to ask them why you have this code.

agrinnall

zudecke wrote: »

However, just received a letter saying that from 6th April 2013 to 5th April 2014 will be 929L.

Can anyone explain what this means exactly?

Thanks,

Z

The letter (assuming this is a P2 notice of coding) will tell you the reason why your personal allowance has been reduced. It's not always that obvious what it means, so if you tell us the exact wording we can explain it to you.