Tax Code query

Andyed201

My tax code has been the same for most of the year, K464 Y. For March the Y at the end turned to an N, and my income tax shot up. This is the only thing that changed on my payslip, so I presuming it is either an error or Y/N change that has caused it.

I can't find out what the Y and N mean. Does anyone know? And does anyone know why they would change?

Cheers

A

xylophone

http://www.hmrc.gov.uk/incometax/codes-basics.htm

N is not mentioned- have you had a Notice of Coding?

zygurat789

My wages program won't accept K464 Y, K464 N, K464Y, K464N.
What are the figures off the last two payslips?

chrisbur

Without figures it is hard to say, as has been said full details from last two payslips would be a good start. As a guess I would say the Y/N is the system used by your employer's payroll system to recognise cumulative and non-cumulative tax codes.
Have you asked your payroll dept what happened to increase your tax?

CLAPTON

Andyed201 wrote: »

My tax code has been the same for most of the year, K464 Y. For March the Y at the end turned to an N, and my income tax shot up. This is the only thing that changed on my payslip, so I presuming it is either an error or Y/N change that has caused it.

I can't find out what the Y and N mean. Does anyone know? And does anyone know why they would change?

Cheers

A

if indeed it is a change from accumulative to non acc then it is possible for your tax to increase


however far more important is whether your tax for the year was correct
if you want to give the details maybe we could check that for you


and of course check this years tax code too

purdyoaten

chrisbur wrote: »

Without figures it is hard to say, as has been said full details from last two payslips would be a good start. As a guess I would say the Y/N is the system used by your employer's payroll system to recognise cumulative and non-cumulative tax codes.
Have you asked your payroll dept what happened to increase your tax?

I would agree - some also ask 'Week 1/ Month 1 applies Y/N'

Delphina

Check your Tax Coding Notices for the year you refer to and the current year, to see if there are incorrect deductions included in the tax code. There could be incorrect figures for medical or car benefits or even underpayment from the past, etc.

If you disagree with benefit figures in code, check with HR first before calling HMRC, as such figures are usually provided by your employer.