Tax code

0161a

I'm hoping someone can advise me
I'm 67 years old, and receive a state pension, wage, and a small private pension. total income less than £25,000
My tax code is 113L 
I have used Martin's tax code calculator and it appears my tax code could be wrong. however, it explains private pensions could cause that ( I included that in my income)
It also appears that tax codes ending L is assigned to under 65's- I am 67
Any advice would be appreciated 

TadleyBaggie

State Pension is taxable income but cannot be taxed by the DWP at source. So your tax has to be taken from all other incomes. If your weekly state pension is around £215, the tax code would appear to be correct.

Dazed_and_C0nfused

0161a said:

I'm hoping someone can advise me
I'm 67 years old, and receive a state pension, wage, and a small private pension. total income less than £25,000
My tax code is 113L 
I have used Martin's tax code calculator and it appears my tax code could be wrong. however, it explains private pensions could cause that ( I included that in my income)
It also appears that tax codes ending L is assigned to under 65's- I am 67
Any advice would be appreciated 

Don't you have two tax codes, one for the job and another for the small pension?

A tax code of 113L really means very little, it is the breakdown of that code that is important.

What are the elements that make up your code?  Personal Allowance 12570 plus/minus other things?

I don't know why you think codes ending L apply to the under 65's?  There is no longer age related Personal Allowance so most people with the standard Personal Allowance will have an L code.  The exception being a K (negative) code.

N suffix = Marriage Allowance applicant (unless K code applies)
M suffix = Marriage Allowance recipient (unless K code applies)
T suffix = lots of different reasons

badmemory

Just ensure that whichever income that code is put against is bigger than the code.  So if your small pension is only £1000 a year (unlikely I know) then the code against it should not be greater than 100L.

If you do overpay during the year then HMRC will sort it out at the end of the tax year although it does take them some time & due to the increasing numbers involved it is taking longer.