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Tax code (120l) help please!!

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  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276 Forumite
    10,000 Posts Combo Breaker
    edited 28 May 2013 at 5:31PM
    [STRIKE]120L tax code implies that there's another 2.5k of allowances (not benefits) on top of the personal allowance of £9,440pa ....[/STRIKE]

    Rubbish post, apologies. Please ignore
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
  • zagfles
    zagfles Posts: 21,421 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Chutzpah Haggler
    120L tax code implies that there's another 2.5k of allowances (not benefits) on top of the personal allowance of £9,440pa ....
    Eh? 120L would give an tax free allowance of £1209, so £8231 of the allowance is being used up by something. The car will be part of it. The mystery is what the rest is.
  • Debt_Free_Chick
    Debt_Free_Chick Posts: 13,276 Forumite
    10,000 Posts Combo Breaker
    zagfles wrote: »
    Eh? 120L would give an tax free allowance of £1209, so £8231 of the allowance is being used up by something. The car will be part of it. The mystery is what the rest is.

    Oops - yes! I completely misread/misunderstood the OP. Looking at my own tax code of 1207L and clearly in la-la land ......

    Apologies - will edit my confusing post
    Warning ..... I'm a peri-menopausal axe-wielding maniac ;)
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