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Tax Codes

DE_612183
Posts: 3,987 Forumite


in Cutting tax
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
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
0
Comments
-
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.
1 -
Dazed_and_C0nfused said: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.
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?0 -
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 calculated1 -
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!0
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