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Tax on savings interest
Comments
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But this projections includes a non means tested job seekers allowance which I received for 6 months several year ago. They said the computer thinks I still get it and they cant override. The call agents agree I don't.
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You mean some of it at 20% instead of 0%? I have no idea, because you haven't provided any figures.
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i have no income except savings interest which is a well under £10000. My HMRC account shows they have taxed the saving interest at 20% and deducted the amount from my tax code. for example tax code was 1257 and is now 9000.
Before taking pension or selling property I want to make sure my tax code is correct. They say the way to adjust the tax code is get a job! They cannot override the system.
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It's all irrelevant, as you have been told several times. Despite what your tax code is (and you have no income to use the code against) your tax free income tax allowance remains £12,570 to go against all your taxable income at the end of the year.
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thank you for your help.
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You could call them, I've had to last year and this year.
Both times they adjusted my tax code to what it should be.
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Try reading the thread in full.
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OP has untaxed income to set their allowance against and in the absence of any PAYE source the code is correct and of no relevance as it will not deduct any tax.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
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A family member of mine has an additional £3130 tax free allowance. Is that added on to the £18570 making £21700 or not ?
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There is a Marriage Allowance lets you transfer £1,260 of your tax-free Personal Allowance to your husband, wife.
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