2 pensions in payment and working - tax code query

realshannon

Hi, last year I decided to put into payment 2 pension pots I had for a while. I had a tax free amount and now have 2 monthly payments. I am still working and have the married tax allowance from my hubs as he is retired on state pension only.
I noticed when the P60s came through for the 2 pensions that my tax code on them is BR and 115T. my work payslip shows 1300M W1/M1. I have today gone through Gov.uk gateway and it shows everything there but I am confused re the tax codes. I dont want to get into a muddle with payment of tax at a later date. does this seem right to anyone who has better knowledge than me of tax codes please? I am a standard tax payer (not high income)

I just dont really understand it but it appears to show everything on the Gateway so they know of the 2 pensions in payment
thank you

drumtochty

It appears your total tax code of 1300 from your employment and 115 from one of your pensions, a total of 1415 in 2018 2019 is in excess of your personal allownce of 1185 and marriage alllowance of 190 a total of 1375. In the tax year 2018 2019.



There appears to be some other tax allowance that you have of 40 point which equates to the ability to earn a further £400.without paying tax.

Dazed_and_confused

Is 1300M the tax code on your current payslip i.e. in the 2019:20 tax year, or from your final payslip in 2018:19?

Can you provide the breakdown of how the 1300M tax code was calculated?

At face value you may owe some tax but there's not enough info to be certain at present.

Can you post the figures from the P60's and final payslip from 2018:19?

realshannon

hi, sorry for late reply and thank you for taking the time. I tried to ring HMRC in the end as thought best to knock it on the head, couldnt get through but online was offered a chat, which I like, as I have it in writing. Very helpful guy, explained it all, has sorted the code(s) out by advising pension provider and my employer and slightly tweaked the allocation. He also found I was due a small rebate from the previous year so win win. Felt alot happier and would recommend the chat system. I may have been lucky but he was very efficient and interested, which is always a good start