Income tac code SK1543 Y in Scotland

Oneeye1975

Hi , can someone tell me what the above tax code means as mine has just changed and seem to be paying nearly £900 a month in income tax more now ?,many thanks

Dazed_and_C0nfused

oneeyefrail said:

Hi , can someone tell me what the above tax code means as mine has just changed and seem to be paying nearly £900 a month in income tax more now ?,many thanks

There could be literally millions of explanations why a tax code is SK1543.  The K signifies you have negative tax code allowances.

I think you probably mean X at the end, not Y.  This signifies the code is used on a non-cumulative basis.

Best thing to do is log onto your Personal Tax Account and look at the breakdown of the code, that will show what deductions have been included to give you a negative tax code.