tax

Re: tax

suz85 — Thu, 01 Mar 2012 22:19:10 GMT

My tax letter says my code is 747 plus £60 making it 753 in total, think it must be tax relief on an extra £60 a year, not sure what it is for, says my union have decided I will spend £60 a year on my job? I find it all very confusing.

Re: tax

sharron.lowe — Thu, 01 Mar 2012 20:20:13 GMT

Do you get tax relief on an extra £60 a year or an extra £60 a year? If its the latter in order to get £60 tax free your tax code has to be 30 hire meaning you get tax relief on £300 (20% of 300 is £60) this means your tax code would be 777? What do you get an extra £60 for? Is it for washing uniform? Don't forget the tax free amount goes up in April :-)

Re: tax

suz85 — Thu, 01 Mar 2012 09:03:21 GMT

Thank you. My main annoyance is that my work deny getting a letter from tax office stating my code, so I want to know why I wasnt just put on the standard 747, the 782 seems to have been just plucked out of thin air! The accountant seems unable to provide an answer. Really irritating if I have to pay, when shes just made up some number and cant explain why. Grrrrrr

Re: tax

chanel clydesdale — Thu, 01 Mar 2012 01:54:06 GMT

Phone the Tax off to check and explain your situation but effectively if you owe them money due to underpayment then effectively you have to pay whether it was your mistake or not.

They will either re adjust your tax code to make up for it or they set up a seperate payment plan to sort it out. If you go the www.moneysavingexpert.com and go to the tax section, it will explain all this better and also if you go the the revenue and customs website. Unfortunately by the way I interpret things, it's your responsibility to check that your employer has matched your tax code correctly.

I've become a victim int he whole tax thing recently and owe quite a bit of money when I return to the UK due to me being given the wrong info by the tax office themselves!! :-( So make sure they give you the correct info and the sooner you sort it the less money you will owe!