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Change in Tax Code I don't understand...
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Kerreh said:Dazed_and_C0nfused said:No, 1257L is the emergency tax code.
Which can then be used on either a cumulative or non cumulatibe basis.
I only raise it given I've received (it feels like) almost monthly tax code change notifications from HMRC the past year given employer changes... most recently 1257L which the letter confirms is the 'standard tax free personal allowance'
What am I missing?
See extract from the P9 document,
https://www.gov.uk/government/publications/p9x-tax-codesIntroduction
For 2023 to 2024 the basic Personal Allowance will be £12,570 for the whole of the UK.
The threshold (starting point) for PAYE is £242 per week (£1,048 per month).
The emergency code is 1257L for all employees.
This guidance tells you what you have to do to get ready and when to make the change to tax codes.0 -
Go figure... two departments not speaking to each other/aligning the information being put out... quelle surprise!
I'll take HMRC at their word based on the *most recent* [no doubt to be superseded] tax code notice that it's the standard tax free personal allowance given I had other notices last year where an emergency code was in placeAim:12mth Emergency Fund -> £14264/£17076 (83%) Aim 2: Mortgage Overpayment -> Paused until other aim fulfilled.0 -
Well if 1257L is the emergency tax code, Im buggered as Ive not paid any tax because Ive not earned that amount - which is the single ( as in Im not giving my tax allowance to hubby ) 0 rate of tax0
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Longwalker said:Well if 1257L is the emergency tax code, Im buggered as Ive not paid any tax because Ive not earned that amount - which is the single ( as in Im not giving my tax allowance to hubby ) 0 rate of tax
You receive the benefit of the standard Personal Allowance each pay day.0
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