1256L tax code?

molerat

If you go to "Pay As You Earn (PAYE)", "Check current tax year", then on the right hand side "What makes up your tax free amount" it will show how the code is arrived at.

n1guy

molerat said:

If you go to "Pay As You Earn (PAYE)", "Check current tax year", then on the right hand side "What makes up your tax free amount" it will show how the code is arrived at.

Untaxed interest on savings and investments £4, I haven’t got any savings or investments 

molerat

Do you earn enough to pay tax ?

If not then they are simply using up spare allowance and nothing to worry about.

n1guy

molerat said:

Do you earn enough to pay tax ?

If not then they are simply using up spare allowance and nothing to worry about.

Yeah about £25k per year I think 

chrisbur

I put this on the wrong thread; my theory

Looking at some figures the OP has posted earlier....
P45 from old job
Gross 21980.10
Tax 1880

WK 52 payday in new job
Gross 440
Tax
88

So at end of week 52 we have 
Gross  22420.10
Tax 1968

The OP did contact HMRC I wonder if some automatic system (possibly even AI) was triggered to check and if needed adjust the OP's tax position, along the lines of....

Gross 22420.10 less tax allowance of 12570 is 9850.10
20% of 9850 is 1970 tax due
Deduct tax paid of 1968 leaves £2 under-deducted
This would then need a reduction in code of one place (ie 1257L becomes 1256L)

Or am I just paranoid?

EDIT  Could well change when/if week 53 is added in.