Tax Code Adjustement for PAYE

It is time of the year to think about the Tax refund.
For 2023/24, I am expecting to earn £60,827. In order to bring me back down to the basic tax payer to keep my marriage allownance, I have to contribute £8,500 NET to my Personal Pension Scheme to increase my tax-free allowance threshold.

I did contact HRMC to update the followings
  1. Personal Allowance - £12,570
  2. Marriage Allownace - £1,260
  3. Personal Pension Payment - £8,500**
  4. Child Benefit - £624 (-ve)
  5. Other Insurance Benefit - £809 (-ve)
But HMRC only update the PPP to £5,000, rather than £8,500 as I have requested.
Now i have a Tax Code of 1739M, should I be worried about this being incorrect?

Many thanks in advance

Comments

  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 12,772
    First Anniversary First Post Name Dropper
    Forumite
    edited 15 November 2023 at 9:35PM
    You cannot request a specific tax code allowances for RAS pension contributions.

    You tell HMRC the contribution and they calculate the adjustment necessary.  Which can only ever be an estimate during the tax year.

    To know why the adjustment is £5,000 you need to know what the estimated (taxable) earnings HMRC have used for your employment.

    Do you know what that figure is?  Did you ask them to use £60,827?
  • You cannot request a specific tax code allowances for RAS pension contributions.

    You tell HMRC the contribution and they calculate the adjustment necessary.  Which can only ever be an estimate during the tax year.

    To know why the adjustment is £5,000 you need to know what the estimated (taxable) earnings HMRC have used for your employment.

    Do you know what that figure is?  Did you ask them to use £60,827?
    I see, I updated the £60,827 over the phone with HMRC advisor, if that’s the case. I don’t need to worry about and just make sure I made the contribution in year 23/24 then, many thanks 
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