Tax Codes

  realist 19:19 25 Jan 10
Locked

Check carefully any new tax code notice you receive.
click here
I got one of these Notices a few weeks back and it ended with a "special note" to the effect that I had "had the benefit of too much tax free amount and therefore owe some tax. We work this out to be £700.13..."
I 'phoned Inland Revenue straight away as my tax is PAYE. They checked and said don't worry it's just a computer error with our new system. I've since received an amended Notice with no arrears. However, I was charged £90 too much tax from my last pay cheque for which I'm still awaiting a refund.

  Monoux 19:36 25 Jan 10
  interzone55 09:38 26 Jan 10

It's interesting that this hasn't been widely publicised.

Our HR department sent a global email to all staff a couple of weeks ago...

  Grey Goo 11:59 26 Jan 10

Nice to see they have now mechanised their screw-ups.

  DJJohne 12:18 26 Jan 10

Warning to taxpayers to check tax codes!

click here

Millions will need to check their coding notices carefully.

Incorrect tax codes may have been sent out by HM Revenue & Customs (HMRC) because of a new computer system.

The codes tell taxpayers how much their employers and pension firms will deduct in income tax in the coming financial year, 2010-11.

The Chartered Institute of Taxation (CIOT) says taxpayers could be asked to pay up to £108 a month too much.

The Revenue said it had no evidence of a widespread problem but advised taxpayers to check carefully.

  Snec 16:12 26 Jan 10

I'm alarmed to hear this.... I've just received a significant refund relating to one company pension, but not the other.

I thought it strange at the time, I've been getting the same pension for awhile (the amount has changed a little bit over the years) and it was difficult to see where I should be due this amount of rebate. Ah well, they'll take it back when they feel like it I suppose.

  Snec 16:46 26 Jan 10

I've just thought of something; if I spend it in the meantime I will prevail upon the good nature and strong financial acumen of GANDALF <|:-)> and obtain a 'get me over this problem' loan.

  peter99co 17:34 26 Jan 10

Did you receive a notice of coding prior to the rebate showing a change to your allowances?

  The Mountaineer 17:49 26 Jan 10

Snec
"I've just thought of something; if I spend it in the meantime"
Maybe you'll qualify for one of those government bail-outs or whatever they're called

  wiz-king 18:01 26 Jan 10

Bail perhaps!

  Snec 18:04 26 Jan 10

Yes, but in truth I didn't look at it closely or think it very important so didn't compare etc. I didn't/couldn't/can't think anything was owed anyway, one way or the other... and I still don't think so. It will sort itself out I expect.

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