Confused About Tax Code

5 Posts

in Cutting tax
Hi,
Hoping someone can help me with a tax code query.
I handed my company car back on 22 Nov 22 and received my new car via a salary sacrifice scheme on the same day. I was expecting my salary payment for December to be a bit higher as I’ve gone from a 2.0 diesel to a fully electric MINI, however I’ve actually received c£125 less in my salary.
Hoping someone can help me with a tax code query.
I handed my company car back on 22 Nov 22 and received my new car via a salary sacrifice scheme on the same day. I was expecting my salary payment for December to be a bit higher as I’ve gone from a 2.0 diesel to a fully electric MINI, however I’ve actually received c£125 less in my salary.
Previous tax code was S480L cumulative, and my new tax code is S415L W1/M1. My new tax code has the full benefit of both vehicles included within it. I don’t think this is correct however I have no idea how it all works. I was expecting my tax code to increase rather than decrease? Any help would be greatly appreciated.
Benefit for diesel car £7763, benefit for MINI £230. Plus they’ve reduced my code by £425 for a £63 tax underpayment.
Benefit for diesel car £7763, benefit for MINI £230. Plus they’ve reduced my code by £425 for a £63 tax underpayment.
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Replies
(Ha sido divertido)
Thanks for your reply.
I have contacted them and checked my personal tax account and it is showing correctly. They also told me that the tax code is correct. I still disagree! I just need someone to
explain it to me. The adviser I spoke to didn’t really know how to.
Is the original car still available to you?
(Ha sido divertido)
I called them and it was corrected.