Can anyone explain this tax code?

marliepanda

Can anyone explain the tax code 560L C? Can't find much info on it online, got taxed £337 on pay of £1900. NI of £157

Caz3121

It means you have additional taxable benefits or income that reduces your tax code by £5000
do you have a company car and other BIK, other income?

CLAPTON

marliepanda wrote: »

Can anyone explain the tax code 560L C? Can't find much info on it online, got taxed £337 on pay of £1900. NI of £157

as CAZ says they think you have benefits in kind

have you recently changed job or circumstances?

is the tax code recent?
did you receive a notice of coding explaining how they arrived at the code?

Anatidaephobia

Possibly they think you have two jobs and have used an estimate of £5000 for your earnings for the other job (could be a previous job you've left), which also suggests the estimated earnings in their system are too low for your current job hence it has given some to another job.

girl_afraid

My tax code has been changed this month to 560L, had the same job for over 3 years and have no other income or benefits, been taxed £319.40 on a wage of £1243.68 :mad:

CLAPTON

girl_afraid wrote: »

My tax code has been changed this month to 560L, had the same job for over 3 years and have no other income or benefits, been taxed £319.40 on a wage of £1243.68 :mad:

have you received a notice of coding explaining the change?

anyway, pick up the phone and contact HMRC (maybe try at 8am when they open or even a little earlier)

girl_afraid

No haven't received a letter, just got my wage slip this afternoon so will ring them in the morning, I'm hoping they've just made a mistake.

girl_afraid

Called HMRC they haven't changed the code and said it was my employers who changed it, they are going to issue the correct code back to them and hopefully I'll get my money back and the correct tax from next month.