Tax Codes

in Cutting tax
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DE_612183DE_612183 Forumite
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Not sure if this is the right board but here goes.
Up until 2022 I was working through my own Ltd Company and paid tax on a Pension and my earnings via a Self Assessment.

No I am working via an Umbrella and have the following tax codes:

Umbrella Co - C391T
Pension - CK204X

To me that looks like my tax free allowance is now £5950 - which I don't understand as everything else is fully paid up.

Any ideas?

Thanks

Replies

  • Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    No, your tax code allowances are £1870 (£3910 less minus £2040)

    You need to look at your Personal Tax Account and check how the CK204 code has been calculated.


  • DE_612183DE_612183 Forumite
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    No, your tax code allowances are £1870 (£3910 less minus £2040)

    You need to look at your Personal Tax Account and check how the CK204 code has been calculated.


    yes - I just checked and the TFA is 1858 - I have no idea why that should be!

    Could it be that as I haven't done the SA return for 2021-22 it's assumed that all the tax will be collected through employment this year, rather than paying the SA bill as I usually do?
  • Dazed_and_C0nfusedDazed_and_C0nfused Forumite
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    yes - I just checked and the TFA is 1858 - I have no idea why that should be!

    If you look at the PAYE section of your Personal Tax Account you should be able to see a breakdown of how the CK204 tax code has been calculated 
  • DE_612183DE_612183 Forumite
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    I've gone back to HMRC and it's to do with their "assessment" of what tax I "could" "potentially" incur in the year - I've sorted it now and they have adjusted the codes back town 757 and 581 or something like that!
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