married mans tax code and passing some allowance to wife/OH

UnsureAboutthis

Hi
My tax code is now 105N from 625N

We have other income other than pensions
My wife was getting the allowable tax allowance transfer from me.
But I want this back and did complete it as such on the self-assessment form. This will apply for 24/25 I understand

FYI: my company pension has now started taxing me at source and I get less money into my bank

My main point is do you think my tax code is correct - to be clear I had transferred the max of my tax allowance to my wife up until 2023/24 but when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more. I get my full allowance from 24/2025.

Does my new tax code seem right I am a married man
Thank you

p00hsticks

UnsureAboutthis said:

Does my new tax code seem right I am a married man
Thank you

You do not give enough information to say, as it will depend on that 'other income'.
The 'N' code indicates that the marriage allowance is still in effect, so your request to discontinue it has not (as yet) been actioned.  

Your personal tax account should give a breakdown of how they have arrived at your code, so your best bet it to look at that and confirm that the figures HMRC  have used are correct.
Personal tax account: sign in or set up - GOV.UK (www.gov.uk)

Dazed_and_C0nfused

UnsureAboutthis said:

Hi
My tax code is now 105N from 625N

We have other income other than pensions
My wife was getting the allowable tax allowance transfer from me.
But I want this back and did complete it as such on the self-assessment form. This will apply for 24/25 I understand

FYI: my company pension has now started taxing me at source and I get less money into my bank

My main point is do you think my tax code is correct - to be clear I had transferred the max of my tax allowance to my wife up until 2023/24 but when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more. I get my full allowance from 24/2025.

Does my new tax code seem right I am a married man
Thank you

Firstly the N in your tax code signifies that Marriage Allowance transfer is still in place.

If I've understood you correctly you have filed your 2023-24 return fairly early and maintained the transfer for that tax year?

If so how did you do this?

when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more

I think you have to cancel Marriage Allowance before the start of the tax year so if you somehow did it when filing your 2023-24 tax year you would have been too late.  As the 2024-25 tax year would already have started.

Will Marriage Allowance save your £252 in tax in 2024-25?

maisie_cat

If you instruct HMRC to remove the marriage allowance it changes at the beginning of the next tax year.
I had to do it in March because my pensions increased. In our case it didn't make any difference to our joint situation, I pay less tax, he pays more.

UnsureAboutthis

Dazed_and_C0nfused said:

UnsureAboutthis said:

Hi
My tax code is now 105N from 625N

We have other income other than pensions
My wife was getting the allowable tax allowance transfer from me.
But I want this back and did complete it as such on the self-assessment form. This will apply for 24/25 I understand

FYI: my company pension has now started taxing me at source and I get less money into my bank

My main point is do you think my tax code is correct - to be clear I had transferred the max of my tax allowance to my wife up until 2023/24 but when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more. I get my full allowance from 24/2025.

Does my new tax code seem right I am a married man
Thank you

Firstly the N in your tax code signifies that Marriage Allowance transfer is still in place.

If I've understood you correctly you have filed your 2023-24 return fairly early and maintained the transfer for that tax year?

If so how did you do this?

when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more

I think you have to cancel Marriage Allowance before the start of the tax year so if you somehow did it when filing your 2023-24 tax year you would have been too late.  As the 2024-25 tax year would already have started.

Will Marriage Allowance save your £252 in tax in 2024-25?

Hello
It seem about right re marriage allowance transfer as I rang the tx office (took many calls as I was giving up after an hour) and I have ticked the box a few weeks ago in this financial year and from what they/hmrc said, it will be applicable in 24/2025 tax year, hopefully

My tax code reduced but my main concern is my company pension has started taking direct tax

To all thanks as a lot of the info tying in with what I have trad and been advised by HMRC is making sense but I will see if my next company pension payment is reduced as much as it was fro April as I have only noted that today

I complete my and my wife self assessment as usual ie within the first week of the new tax year
HMRC is also demanding payments for 2024/25 tax year by July 2025, it 50% of it I think
We often pay in April but I will not pay my/our taxes until late Dec this time

I am not sure why my tax allowance has reduced as per my op - could be we are getting larger income

Cheers

Dazed_and_C0nfused

UnsureAboutthis said:

Dazed_and_C0nfused said:

UnsureAboutthis said:

Hi
My tax code is now 105N from 625N

We have other income other than pensions
My wife was getting the allowable tax allowance transfer from me.
But I want this back and did complete it as such on the self-assessment form. This will apply for 24/25 I understand

FYI: my company pension has now started taxing me at source and I get less money into my bank

My main point is do you think my tax code is correct - to be clear I had transferred the max of my tax allowance to my wife up until 2023/24 but when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more. I get my full allowance from 24/2025.

Does my new tax code seem right I am a married man
Thank you

Firstly the N in your tax code signifies that Marriage Allowance transfer is still in place.

If I've understood you correctly you have filed your 2023-24 return fairly early and maintained the transfer for that tax year?

If so how did you do this?

when I completed the self-assessment this year, I ticked the box that I did not want to transfer this any more

I think you have to cancel Marriage Allowance before the start of the tax year so if you somehow did it when filing your 2023-24 tax year you would have been too late.  As the 2024-25 tax year would already have started.

Will Marriage Allowance save your £252 in tax in 2024-25?

Hello
It seem about right re marriage allowance transfer as I rang the tx office (took many calls as I was giving up after an hour) and I have ticked the box a few weeks ago in this financial year and from what they/hmrc said, it will be applicable in 24/2025 tax year, hopefully

My tax code reduced but my main concern is my company pension has started taking direct tax

To all thanks as a lot of the info tying in with what I have trad and been advised by HMRC is making sense but I will see if my next company pension payment is reduced as much as it was fro April as I have only noted that today

I complete my and my wife self assessment as usual ie within the first week of the new tax year
HMRC is also demanding payments for 2024/25 tax year by July 2025, it 50% of it I think
We often pay in April but I will not pay my/our taxes until late Dec this time

I am not sure why my tax allowance has reduced as per my op - could be we are getting larger income

Cheers

There could be millions of reasons.

But a couple are more likely, you get State Pension and this has increased in the current tax year compared to last year.

And when you filed your 2023-24 return you didn't tick the box to say you don't want HMRC to update your tax code based on the latest information on your return.  So they might have included things you wouldn't normally expect, say rental income.  But that would only l happen based on how you completed the return.  That is reversible (and you pay it via Self Assessment as normal).

But you really need to start by getting the breakdown of how the 105N code has been calculated.