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Tax code changed
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borderline
Posts: 362 Forumite


in Cutting tax
Back i March I received a letter from HMRC saying that I owe them £213 from a previous tax year and that they are changing my tax code from 1060 to 953L from this april to April 2016
Today I got paid and for the first time the new tax code is reflected on my wages , until now since this april was still 1060L...
I get paid every two weeks ..the thing is, I noticed my net paid is about £50 less with this new tax code...
so I’m confused here, if I’m gonna have this new tax code for the rest of the tax year, and if I only owe the tax office £213 how come I’m already losing £50 in a two weeks pay check ? am I’m gonna be short of £50 every time from now on until the next tax year... that would be more than the £213 they say I owe them?
I don’t undersntand:(
Today I got paid and for the first time the new tax code is reflected on my wages , until now since this april was still 1060L...
I get paid every two weeks ..the thing is, I noticed my net paid is about £50 less with this new tax code...
so I’m confused here, if I’m gonna have this new tax code for the rest of the tax year, and if I only owe the tax office £213 how come I’m already losing £50 in a two weeks pay check ? am I’m gonna be short of £50 every time from now on until the next tax year... that would be more than the £213 they say I owe them?
I don’t undersntand:(
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Comments
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borderline wrote: »Back i March I received a letter from HMRC saying that I owe them £213 from a previous tax year and that they are changing my tax code from 1060 to 953L from this april to April 2016
Today I got paid and for the first time the new tax code is reflected on my wages , until now since this april was still 1060L...
I get paid every two weeks ..the thing is, I noticed my net paid is about £50 less with this new tax code...
so I’m confused here, if I’m gonna have this new tax code for the rest of the tax year, and if I only owe the tax office £213 how come I’m already losing £50 in a two weeks pay check ? am I’m gonna be short of £50 every time from now on until the next tax year... that would be more than the £213 they say I owe them?
I don’t undersntand:(
The clue is in your sentence ' from this April to April 2016'. We are just over a quarter of the way through this tax year and, on that code, one quarter of £213 should have been collected by now - roughly £53.
You should be losing around £8 per fortnight from now on.There are 10 types of people in the world - those who understand binary and those who do not. :doh:0 -
purdyoaten wrote: »The clue is in your sentence ' from this April to April 2016'. We are just over a quarter of the way through this tax year and, on that code, one quarter of £213 should have been collected by now - roughly £53.
However, normally a code reduction would be applied on a 'week 1' basis which would mean that the reduction would apply only from the first pay following the new code number issue i.e. sort out the period from April to now at a future date.
You should be losing around £8 per fortnight from now on.
so basically this £50 is accumulated since April when my employers didn’t change the tax code until now... and from the next pay it should be only about £8...
that makes more sense... I’ll keep an eye on it ..
I tried to call HMRC but it’s impossible to get through:mad:0 -
borderline wrote: »so basically this £50 is accumulated since April when my employers didn’t change the tax code until now... and from the next pay it should be only about £8...
that makes more sense... I’ll keep an eye on it ..
I tried to call HMRC but it’s impossible to get through:mad:
Yes - sorry I presumed incorrectly that the code was only recently issued and have deleted the relevant paragraph.
It appears that the fault is with your employer if they did receive the new code and have only just applied it.There are 10 types of people in the world - those who understand binary and those who do not. :doh:0 -
purdyoaten wrote: »Yes - sorry I presumed incorrectly that the code was only recently issued and have deleted the relevant paragraph.
It appears that the fault is with your employer if they did receive the new code and have only just applied it.
If only we could make all mistakes disappearThe only thing that is constant is change.0 -
zygurat789 wrote: »If only we could make all mistakes disappear
If only we could stop people quoting our mistakes in their postings?There are 10 types of people in the world - those who understand binary and those who do not. :doh:0
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