D0 M1 Tax Code - What Is M1?

AnnoyedGuy

molerat said:

Does it give your tax code on leaving the employment ?

It does not, no... but just dug up an old pay check and it was previously: 1250L

molerat

Looks like they have fouled up moving the tax code across, something they are quite good at lately.  Happened to my granddaughter, looking forward to her £160 back now they have sorted it, quite a large amount to a student part time worker.

AnnoyedGuy

molerat said:

Looks like they have fouled up moving the tax code across, something they are quite good at lately.  Happened to my granddaughter, looking forward to her £160 back now they have sorted it, quite a large amount to a student part time worker.

Got it changed to 0T which is now way more favourable!  Thanks for the help.

[Deleted User]

AnnoyedGuy said:

molerat said:

Looks like they have fouled up moving the tax code across, something they are quite good at lately.  Happened to my granddaughter, looking forward to her £160 back now they have sorted it, quite a large amount to a student part time worker.

Got it changed to 0T which is now way more favourable!  Thanks for the help.

It is certainly more favourable but still wrong if you have only one job. You will now pay tax at 20% on the first 37500 and 40% thereafter - no personal allowances. What was the reasoning behind this code?

What about next year?

molerat

Did you query you have no tax allowance ?

Dazed_and_C0nfused

Maybe ANI > £125k?

AnnoyedGuy

 purdyoaten2 said:

AnnoyedGuy said:

molerat said:

Looks like they have fouled up moving the tax code across, something they are quite good at lately.  Happened to my granddaughter, looking forward to her £160 back now they have sorted it, quite a large amount to a student part time worker.

Got it changed to 0T which is now way more favourable!  Thanks for the help.

It is certainly more favourable but still wrong if you have only one job. You will now pay tax at 20% on the first 37500 and 40% thereafter - no personal allowances. What was the reasoning behind this code?

What about next year?

Unfortunately I didn't query that, but assumed this applied:
You can also see the rates and bands without the Personal Allowance. You do not get a Personal Allowance on taxable income over £125,000.

They said, it'll be relooked at on the 5th of April. Keen to get the rebate too as I've been paying more than I should have since last July. 

[Deleted User]

AnnoyedGuy said:

 purdyoaten2 said:

AnnoyedGuy said:

molerat said:

Looks like they have fouled up moving the tax code across, something they are quite good at lately.  Happened to my granddaughter, looking forward to her £160 back now they have sorted it, quite a large amount to a student part time worker.

Got it changed to 0T which is now way more favourable!  Thanks for the help.

It is certainly more favourable but still wrong if you have only one job. You will now pay tax at 20% on the first 37500 and 40% thereafter - no personal allowances. What was the reasoning behind this code?

What about next year?

Unfortunately I didn't query that, but assumed this applied:
You can also see the rates and bands without the Personal Allowance. You do not get a Personal Allowance on taxable income over £125,000.

They said, it'll be relooked at on the 5th of April. Keen to get the rebate too as I've been paying more than I should have since last July. 

See Dazed’s last comment which hit the nail on the head. 0T (zero T) would appear to the the correct code going forward.