I'm being taxed at 338T - does this mean I am overpaying PAYE tax when I should be taxed at 1250L?

StaceyShurlin

I'm being taxed at 338T - does this mean I am overpaying PAYE tax when I should be taxed at 1250L?
It feels as though this must be a wrong tax code. Am I paying too much? Can the employer change the tax code or does HMRC have to initiate the change?

Caz3121

you need to look at your coding notice to see how the 338T was calculated. It may be correct, the calculation would be broken down on the notification. Did you have 2 jobs? other taxable income? Your employer will use the code issued to them by HMRC

jonesMUFCforever

Have you underpaid from last year? They might be collecting underpayments this year or are you subject to Beneficial loans tax in any way?

Dazed_and_C0nfused

StaceyShurlin said:

I'm being taxed at 338T - does this mean I am overpaying PAYE tax when I should be taxed at 1250L?
It feels as though this must be a wrong tax code. Am I paying too much? Can the employer change the tax code or does HMRC have to initiate the change?

Have you checked your Personal Tax Account to see how the 338T has been calculated?

There are two likely scenarios, firstly you have a more complicated code than most people or the 338T is simply allowances from your main tax code which have been given to a second job.

Details of how many employments (including taxable DWP benefits) you have been paid by in the current tax year would be helpful.

Jeremy535897

StaceyShurlin said:

I'm being taxed at 338T - does this mean I am overpaying PAYE tax when I should be taxed at 1250L?
It feels as though this must be a wrong tax code. Am I paying too much? Can the employer change the tax code or does HMRC have to initiate the change?

An employer does not change a tax code. Log on to your personal tax account if you have no paper copy setting out how it is arrived at.