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How are K Tax Codes Worked Out?

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Comments

  • molerat
    molerat Posts: 34,763 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Does your on line tax account reflect the correct estimated incomes from each source ?
  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 17,800 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    edited 23 October 2024 at 8:01AM
    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
  • BikingBud
    BikingBud Posts: 2,585 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    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?
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