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beemuzed
beemuzed Posts: 2,188 Forumite
Mortgage-free Glee!
in Cutting tax
Ok I admit I never look at my pay slip! However, after a chat with a friend I realised that my tax code is "BR". Have been in my present job for 6 years. She reckons I ought not to have this code???
Resolution:
Think twice before spending anything!
«1

Comments

  • LittleVoice
    LittleVoice Posts: 8,974 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    BR (Basic Rate) means you will not get any tax free personal allowance (currently £5225 for the year) but will be paying 22% on all your earnings.

    Unless you have another job which takes account of all your personal allowance, you need to get a P46 form from your employer to get things sorted for this year.

    Contact the HMRC for past years.
  • beemuzed
    beemuzed Posts: 2,188 Forumite
    Mortgage-free Glee!
    Sounds as if I'd better get onto this asap then! Thanks for that!
    Resolution:
    Think twice before spending anything!
  • tinkerbell84
    tinkerbell84 Posts: 5,323 Forumite
    beemuzed wrote: »
    Ok I admit I never look at my pay slip! However, after a chat with a friend I realised that my tax code is "BR". Have been in my present job for 6 years. She reckons I ought not to have this code???

    :eek::eek::eek::eek::eek:
  • beemuzed
    beemuzed Posts: 2,188 Forumite
    Mortgage-free Glee!
    I know, I know! Just that because my salary is always the same and goes straight into my bank account I really don't do more than glance at the slip. (Hangs head in shame and repeats "I am an idiot" several dozen times!)
    Resolution:
    Think twice before spending anything!
  • tinkerbell84
    tinkerbell84 Posts: 5,323 Forumite
    But by the sounds of it it's always been wrong!!!

    I hope you keep them after you've 'glanced' at them!
  • beemuzed
    beemuzed Posts: 2,188 Forumite
    Mortgage-free Glee!
    Actually, yes I do - all the way back to 1970 when I started work! And yes, in previous jobs I've always had a "proper" code - guess I just assumed I still did.
    Resolution:
    Think twice before spending anything!
  • tinkerbell84
    tinkerbell84 Posts: 5,323 Forumite
    Did you give your employers the P45 from your previous job?
  • beemuzed
    beemuzed Posts: 2,188 Forumite
    Mortgage-free Glee!
    I assume so! Anyhow, I'll be calling HR + Payroll first thing on Monday morning. Can't believe this!
    Resolution:
    Think twice before spending anything!
  • tigtag02
    tigtag02 Posts: 6,857 Forumite
    Part of the Furniture Combo Breaker
    Oh wow - you might just have a nice little windfall coming your way :p
    :heartpuls baby no3 due 16th November :heartpuls
    TEAM YELLOW
    DFD 16/6/10
    "Shut your gob! Or I'll come round your houses and stamp on all your toys" The ONE, the ONLY, the LEGENDARY Gene Hunt :heart2:
  • tinkerbell84
    tinkerbell84 Posts: 5,323 Forumite
    tigtag02 wrote: »
    Oh wow - you might just have a nice little windfall coming your way :p

    unless he should actually be paying 40% :eek:!!
This discussion has been closed.
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