Correct Tax Code?

[Deleted User]

[Deleted User] said:

menz456 said:

So  I did my tax return and it said I was owed 3k. My tax code given to me was 417T.

have you a complicated income?

Look HERE.

We can only guess! I will have a go - op was self-employed, took up a job and handed in an old P45 with code 417T. Code now amended correctly and repayment made as a result of being on wrong code previously. All now appears fine!

But I could be miles out!

littledog70

menz456 said

So  I did my tax return and it said I was owed 3k. My tax code given to me was 417T. On the Moneysaving link it says I should be 1257L, giving me 12k tax free. I did a how much tax should I pay each month and it was £300 a month more than this code should be. Unless you have another reason everyone is 1257L so check what your current code. 

The coding notice that was given to you to give you the tax code will have had a full breakdown of why its 417t..

It could be anything from underpayments from the past, to an adjustted net income of around 117k, mix up with past job/new job tax codes, employee benefits like company car etc etc