Tax code - !!! vs noncumul

jem16

junglejame911 wrote: »

Am I likely to be paying too much or too little?

You will be paying too much tax. Time to phone HMRC I think.

You should also check on last year's total income and tax paid in case it's wrong.

zygurat789

jem16 wrote: »

You will be paying too much tax. Time to phone HMRC I think.

You should also check on last year's total income and tax paid in case it's wrong.

Since the OP finished the year on a non-!!! tax code the tax is almost certainly wrong. It could, of course, be just as likely to be underpaid as overpaid.

CLAPTON

junglejame911 wrote: »

Hi,
Just have a query about my tax codes. Never understood this very well so stick with me.



I started a new job in September 2013 and sent in p45 from previously employment.


From September 2013 to April 14 I was on 63T NONCUM.
(Basic pay 3307.75 – PAYE 648.90)

From the start of this tax year I have been on 186T CUMUL.
(Basic pay 3307.75 – tax 606.51)


I didn’t receive the usual notice that outlines what my tax code for the incoming year.



Does anyone know why I have changed from non-!!!. to cumul? Does this all look correct?

PS no idea why the title of this has all those exclamation marks, it should have read "Tax code - !!! vs noncumul"

PPS Its done it again and I think I've just realised why! - Its before the watershed and all that! c u m vs noncumul

if you are a 'normal' person with only one job and no benefits in kind (e.g car , medical insurance ) earning less than 100,000, with no tax arrears, then you would have a 10,000 tax free annual allowance
this would show as a tax code of 1000L (it would be cumulative although it usually doesn't say that as it's normal).

in your case the tax code is 186T which means you only get a 1860 tax free allowance so in simple terms you are paying too much tax by about 20% of 10,000 - 1860 = £1,628

phone HMRC and explain the situation

zygurat789

CLAPTON wrote: »

if you are a 'normal' person with only one job and no benefits in kind (e.g car , medical insurance ) earning less than 100,000, with no tax arrears, then you would have a 10,000 tax free annual allowance
this would show as a tax code of 1000L (it would be cumulative although it usually doesn't say that as it's normal).

in your case the tax code is 186T which means you only get a 1860 tax free allowance so in simple terms you are paying too much tax by about 20% of 10,000 - 1860 = £1,628

phone HMRC and explain the situation

Unless, of course, there is a good reason for this restriction.
The answer will be on your P2 (HMRC form) which should have been issued to you and which you should (like all important documentation) keep.