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Wrong tax code at new job - am I meant to correct it myself?
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Okay... sooooo... I don't have to do anything and 1001L is correct for this tax year, is that what i'm understanding?0
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Tax code to start with is 1267L and reduced by 266 places to 1001Lmartin2345uk said:Okay... sooooo... I don't have to do anything and 1001L is correct for this tax year, is that what i'm understanding?
Tax will be paid at 40% on an extra £2660 which is £1064
Of course if your earnings change substantially then this figure may change but on roughly your currant earnings this adjustment will clear the underpayment.1
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