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How are K Tax Codes Worked Out?
Comments
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Does your on line tax account reflect the correct estimated incomes from each source ?
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I think the real problem here is that the source HMRC see as the "main"' source of PAYE income isn't the optimal one for the op.
They need to speak with HMRC to get that changed so that one which is genuinely a much larger amount of taxable income is the "main" one.
So the new tax codes arrived and I now have a code K1620X against an income stream of less the £1300
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I understand that and it is on my task list but the situation defies logic, how can the system, the staff, allocate the code it did knowing full well it will not deliver the desired outcome?0
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