Change to tax code

Dazed_and_C0nfused

You need to find the add investment income option within your Personal Tax Account.

That is apparently the only way to notify HMRC of a change relating to untaxed interest.

Or you could just phone at 8am sharp one day next week.

NB. When you say untaxed income do you really mean untaxed interest?

WindfallWendy

Thanks for that pointer, I'll see if I can find it, and maybe just give them a call then.

The words HMRC used were "untaxed income" but yes, the only untaxed income I have now is untaxed interest, so I guess they are interchangable terms. Does it matter?

But in 24/25 I did have some other untaxed income from rental as well as interest, so i guess they are making assumptions based on that which is rather annoying.

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/comment/81893880#Comment_81893880

I would say it matters a lot, not least because interest and rental income can have different tax rates applied.

WindfallWendy

I've found somewhere to update my income in my tax account, so have indicated that my income from property is now zero. It looks like they have assumed I will have the same rental income this (tax) year as I had last (tax) year. So hopefully this will reset their expectations.

Thanks for the help!

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/comment/81893897#Comment_81893897

And if your tax code for this (tax) year is updated then you can expect the code for the next (tax) year, the one you originally asked about, to also get updated on the same basis.

WindfallWendy

I had a message saying my tax code has changed but they still have forecast over £4000 of non-salary income, which is rather frustrating. I guess I will submit my SA return in April showing them that I don't have that much additional income and they will recode me? Gah!!!