Can anyone help explain a tax code

maggiesoup

Hi, with a bit more time on my hands, I thought I'd investigate the P60 my company just sent to me.  I'm only part time and live in Scotland.  The tax code is SK136M1  -  I tried to look it up and it appears that an M at the end indicates that my partner has transferred 10% of his personal allowance to me.  Bit odd as I'm single and live alone. 
Can anyone help please?
Thanks in advance and hope everyone is safe out there 

kuratowski

Confusingly, M1 is not the same as M.   It means to treat this month as a standalone month, instead of calculating tax cumulatively on the basis of the full year-to-date.  HMRC use this kind of code for an in-year adjustment, to collect an underpayment spread out through the year instead of whacking you with it all in one go.

https://www.gov.uk/employee-tax-codes/letters#if-your-employees-tax-code-has-w1-or-m1-at-the-end

unholyangel

Your tax code was actually SK136. 
The M1 has been added by the software your employer uses to denote the basis the tax code is operated on (non cumulative) but it's not actually part of the tax code. Some other software might reflect that same information as SK136X or some other way. 

maggiesoup

Thanks to you both.  Yes, I did owe them a little tax so that's probably the reason why.  However, not sure why tax code is 126 and not 136 as noted?

unholyangel

maggiesoup said:

Thanks to you both.  Yes, I did owe them a little tax so that's probably the reason why.  However, not sure why tax code is 126 and not 136 as noted?

Sorry! Just me getting it wrong, replace that 2 with a 3