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0T M1 tax code
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Dvnfermling
Posts: 51 Forumite
in Cutting tax
I live in Scotland and have just retired (31st March), have received my final payslip and P45. I am still due 1 days pay which I have been told will have to be paid in the new tax year with a 0T M1 tax code.
I am also in the process of sending in my forms for payment of a DB pension which will have 30 months arrears (I'm 62 and this was payable from 60 and confirmed by my old company pension dept). Will this 1 days pay be worthwhile claiming or will it confuse matters regarding tax between the 1 day wage and my pension back pay.
Just to confuse things even more I have a small civil service pension currently being taxed at SBR.
I am also in the process of sending in my forms for payment of a DB pension which will have 30 months arrears (I'm 62 and this was payable from 60 and confirmed by my old company pension dept). Will this 1 days pay be worthwhile claiming or will it confuse matters regarding tax between the 1 day wage and my pension back pay.
Just to confuse things even more I have a small civil service pension currently being taxed at SBR.
0
Comments
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Of course it is worth claiming the 1 days pay. Whatever the tax, you will have more than if you don't claim.1
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