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Wrong tax code for having company car
gs1977
Posts: 2 Newbie
HI
Basically I took a new job september 2012 and got a company car. I pay a fuel allowance each month for personal use and my employer updated my company car details online with HMRC.
HMRC hasn't updated my tax code until now (somethign to to with employer submitting a P11d to them) and now my code has changed and Im getting hammered for tax.
Apparently I have under paid my tax since Sep last year and HMRC will recoup the difference through my tax code from next tax year not this year. Is this right? They havent sent me any notification of my new tax code - changed just this month - and I have no idea how much I have under paid by.
Any advice much appreciated!
Thanks
Basically I took a new job september 2012 and got a company car. I pay a fuel allowance each month for personal use and my employer updated my company car details online with HMRC.
HMRC hasn't updated my tax code until now (somethign to to with employer submitting a P11d to them) and now my code has changed and Im getting hammered for tax.
Apparently I have under paid my tax since Sep last year and HMRC will recoup the difference through my tax code from next tax year not this year. Is this right? They havent sent me any notification of my new tax code - changed just this month - and I have no idea how much I have under paid by.
Any advice much appreciated!
Thanks
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