It's Time To Check Your Tax Codes

molerat

It seems that random tax code change season has come round again, a bit late this year, so probably best for everyone to have a quick look.  I check mine at least once a week during October / November and today it paid off.

Every April I put £2880 into my SIPP

Every April I update that income stream to show £2700 taxable income

Every June I withdraw around £2714 taxable income

Every October HMRC decide that income stream is around £8140 and change my tax code to recoup the "underpaid tax" and send me a letter

Every October I reset that income to £2715 and HMRC change my tax code back and send me a letter.

Every November my pension provider that my allowance is set against sends me a letter that they have implemented the new (reversal) tax code they have been issued - the same code they have been using all year.

Complete waste of time and money all round 

Isthisforreal99

Sign up for a Personal Tax Account and everything will be digital.

molerat

Isthisforreal99 said:

Sign up for a Personal Tax Account and everything will be digital.

How do you think I check my tax code ?

I would rather not rely on the inept HMRC to inform me (or maybe forget to inform me) of what they have done and do it the old fashioned way of checking for myself.

Isthisforreal99

molerat said:

Isthisforreal99 said:

Sign up for a Personal Tax Account and everything will be digital.

How do you think I check my tax code ?

I would rather not rely on the inept HMRC to inform me (or maybe forget to inform me) of what they have done and do it the old fashioned way of checking for myself.

 Well can only speak for myself but I get an alert via the app and an e-mail that I have a change of tax code.

Also saying 'send me a letter' did not imply using your PTA.

Albermarle

Isthisforreal99 said:

molerat said:

Isthisforreal99 said:

Sign up for a Personal Tax Account and everything will be digital.

How do you think I check my tax code ?

I would rather not rely on the inept HMRC to inform me (or maybe forget to inform me) of what they have done and do it the old fashioned way of checking for myself.

 Well can only speak for myself but I get an alert via the app and an e-mail that I have a change of tax code.

Also saying 'send me a letter' did not imply using your PTA.

I sometimes get an e mail and sometimes I don't, when there is a tax code change. No idea why.