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Help with tax code please

ferry
ferry Posts: 2,017 Forumite
Part of the Furniture 500 Posts Name Dropper
in Employment, jobseeking & training
Just thought I would run this by you, please

New job started 3 months ago, tax code on my pay slip has been 1060L M1- any ideas why this would be for basic rate tax payer?

Should I be expecting it to be 944L?

Thanks as usual
F
:j

Comments

  • Torry_Quine
    Torry_Quine Posts: 18,894 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    ferry wrote: »
    Just thought I would run this by you, please

    New job started 3 months ago, tax code on my pay slip has been 1060L M1- any ideas why this would be for basic rate tax payer?

    Should I be expecting it to be 944L?

    Thanks as usual
    F

    1060 is the standard tax code for this year so is correct.
    Lost my soulmate so life is empty.

    I can bear pain myself, he said softly, but I couldna bear yours. That would take more strength than I have -
    Diana Gabaldon, Outlander
  • p00hsticks
    p00hsticks Posts: 14,961 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    ferry wrote: »
    Just thought I would run this by you, please

    New job started 3 months ago, tax code on my pay slip has been 1060L M1- any ideas why this would be for basic rate tax payer?

    Should I be expecting it to be 944L?

    Thanks as usual
    F

    1060L is correct for this tax year (2015-16) as the tax allowance is £10,600. 944L was for tax year 2013-14.

    The M1 bit isn't good though - it's an emergency "month 1" tax code which means your tax is being calculated based only on what you earn each month rather than cumulatively. Did you give your new employer a P45 from your previous job ?

    https://www.gov.uk/tax-codes/letters-in-your-tax-code-what-they-mean
  • ferry
    ferry Posts: 2,017 Forumite
    Part of the Furniture 500 Posts Name Dropper
    p00hsticks wrote: »
    1060L is correct for this tax year (2015-16) as the tax allowance is £10,600. 944L was for tax year 2013-14.

    The M1 bit isn't good though - it's an emergency "month 1" tax code which means your tax is being calculated based only on what you earn each month rather than cumulatively. Did you give your new employer a P45 from your previous job ?

    https://www.gov.uk/tax-codes/letters-in-your-tax-code-what-they-mean

    Thanks. Yes P45 handed in on 1st day, need to speak to my HR tomorrow
    :j
  • LittleVoice
    LittleVoice Posts: 8,974 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    blondebubbles wrote: »
    HR cannot change a tax code without HMRCs approval. You should cal HMRC.

    But speaking to HR first could clear up why the code is not being applied on cumulative basis. It's just possible they made a mistake.
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