New style PAYE coding notice

[timwilky]

Well my latest one has just arrived. The revenue must have decided to give clearer explanations and it is enough to make me cry. Well my code is a pitiful 96L.

The explanation of the implications says :- "You can receive about £80 a month, or £19 a week before you employers take tax off you".

£19 a week before I pay tax. I want to cry

Originally Posted by timwilky

Well my latest one has just arrived. The revenue must have decided to give clearer explanations and it is enough to make me cry. Well my code is a pitiful 96L.

The explanation of the implications says :- "You can receive about £80 a month, or £19 a week before you employers take tax of you".

£19 a week before I pay tax. I want to cry

Your first coffee of the week is tax free! \o/

Dan

Timwilky - Know how you feel!!!

My tax code has gone from 453L to 222L and nothing in my life or work has changed - just that the taxman wants to now take £3000 off my personal allowance for my work van, oh and I've got to tell them about my diesel card - another £500.

SO that will be a tax code of 172L

Not as mad as your but still hurts - esp as I'm single, living too close to London, and on £20k - there goes the mortgage!!!

[timwilky]

Originally Posted by Sudoxe

Your first coffee of the week is tax free! \o/

Dan

Oh christ, Do I have to tell them that the company supplies free coffee? and I am a caffeine addict.

[mac608]

Be thankful you're not on a "K" code.

You already owe the taxman before you've even got out of bed.

Originally Posted by mac608

Be thankful you're not on a "K" code.

You already owe the taxman before you've even got out of bed.

Originally Posted by Caddy2000

Yup,

I was on K509 for about 6 months last year. Allowed to earn -£5000 before the tax started.

How does that work? How can you owe the government money before you have even earnt any?

Unless you've been a little naughty?....

Basically, they believed I'd earned a lot more in 05-06 than I actually did and wanted payment on account. I didn't want to give them this money I didn't really owe, so just ignored it.
This is not a practical solution.

[mac608]

Caddy2000 Posted: Mon Jan 22, 2007 10:03 pm Post subject:

--------------------------------------------------------------------------------

How does that work? How can you owe the government money before you have even earnt any?

Two ways- owing the taxman a bundle from a previous year(s), or you have a company car and/or other taxable benefits were the tax on them is greater than your allowances