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Weird tax code

Legacy_user
Posts: 0 Newbie
in Cutting tax
Hi lovely MSEers!
Any advice on this would be very welcome. I just don't understand tax! So I wasn't earning for the first half of this financial year as I was on unpaid mat. leave. I thought this would mean I would get some tax back in April, but I just noticed my tax code is weird so I wondered whether my tax rate has already been adjusted for this? It's 1062L CUMU.
Thanks in advance!
Any advice on this would be very welcome. I just don't understand tax! So I wasn't earning for the first half of this financial year as I was on unpaid mat. leave. I thought this would mean I would get some tax back in April, but I just noticed my tax code is weird so I wondered whether my tax rate has already been adjusted for this? It's 1062L CUMU.
Thanks in advance!
0
Comments
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Ashamed_of_Bristol wrote: »Hi lovely MSEers!
Any advice on this would be very welcome. I just don't understand tax! So I wasn't earning for the first half of this financial year as I was on unpaid mat. leave. I thought this would mean I would get some tax back in April, but I just noticed my tax code is weird so I wondered whether my tax rate has already been adjusted for this? It's 1062L CUMU.
Thanks in advance!
I'm not an expert but I'll have a go.
I don't think it's a particularly weird.
Do you get an allowance for washing your uniform or something ?
The most usual code for this year would be 1060L, indicating that you'd get the standard allowance of £10,600 a year. For tax year 2014-15 it was 1000L / £10,000 - for some reason you have a bit extra on your allowance.
The CUMU means that the tax is calculated on your total earnings for the year so far, which is what you want.
https://www.gov.uk/tax-codes/overview0 -
Ashamed_of_Bristol wrote: »Hi lovely MSEers!
Any advice on this would be very welcome. I just don't understand tax! So I wasn't earning for the first half of this financial year as I was on unpaid mat. leave. I thought this would mean I would get some tax back in April, but I just noticed my tax code is weird so I wondered whether my tax rate has already been adjusted for this? It's 1062L CUMU.
Thanks in advance!
If your tax code was cumulative for last year the tax you paid will be correct. Your period of non-earning for the first part of the year will have been taken into account for the rest of the year.
As with most tax queries if you could give the details ie tax code, taxable gross for the year and tax paid a better answer can be given.0 -
I doubt if there's much of an issue for the current tax year, but you seem unclear about what happened in the last tax year. Have you had your P60 yet? If you give us the figures from that we can tell you whether you were taxed correctly for the period that you were working.0
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