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Help with Tax Code
Comments
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That sounds right then - as others have pointed out the 'X' means that the code is applied on a non-cumulative basis, so will only apply for the part of the year in which you are actually receiving your state pension.0
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Another way of looking at it -
henceforth you will be pay tax each month on 1/12 of your annual salary in addition to 1/12 of your annual state pension.The tax due can only be deducted from your salary as there is no mechanism to deduct tax from the state pension.1 -
OK. Thanks everyone, I'm a lot clearer now.0
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