We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Tax Codes

Options
DE_612183
DE_612183 Posts: 3,711 Forumite
Part of the Furniture 1,000 Posts Photogenic Name Dropper
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

Comments

  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 17,510 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    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_612183
    DE_612183 Posts: 3,711 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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_C0nfused
    Dazed_and_C0nfused Posts: 17,510 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    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_612183
    DE_612183 Posts: 3,711 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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!
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.8K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.8K Work, Benefits & Business
  • 598.6K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 257K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.