Tax code

[Pieces]

About half an hour ago the accounts dept just came to me and told me my tax code is changing to 567L and I might need to call HRMC to find out why otherwise I’ll be taxed lots in January.
Anyone know what this code means please?
A little about me, I have changed jobs 3 times this year due to a string of bad luck and I have finally started a new contract at the job I originally had earlier this year. Do HRMC think I have 2 jobs?

I earn very little (min wage) and work 42 hours a week if this helps.

Quite stressed about this, it’s been a hell of a year.

Merry Christmas all x

[mickey house]

Just give them a call and they will likely sort it. Don't worry because even if you initially pay a little more tax they will refund every penny you over pay.

[lesley1960]

Do you receive any benefits in kind? i.e Private medical or company car?
Do you receive a pension , or do you have another job
Have you underpaid tax previously?

Re reading your post , they may not have been informed that you have stopped working your previous jobs , did you have a P45 for each job , especially going into this new job ? , or did you have to fill out a new starters form for this job?

The only way to sort this is to ring HMRC I am afraid , and if you aren't satisfied with the first answer , call again to speak to someone else . Not that they aren't helpful once you get through ! but in my experience you can get different answers

[Pieces]

Thank you. I don’t receive any benefits, never have. Earned no more than 8.50 an hour all year. Been out of work for a few weeks in the summer but otherwise been working full time. Always filled in a new starter form. Thanks

[400ixl]

That means you have an annual tax free income level of £5760 after which you will be taxed at the basic rate.

It suggests you have underpaid tax at some point and they are claiming it back.

As your accounts dept have suggested get onto HMRC asap.

You will get back anything they over tax you but better to avoid it in the first place.

[Pieces]

Originally Posted by Claudette

The L part of the tax code is normal and is the default for most people. To me it does not suggest that HMRC think you have a second job. The 567 bit suggests to me that HMRC think you have under paid tax in the past, either this year or in a previous year. Why did you use the new starter form rather than hand in your P45? It could be that this caused you to be undertaxed in a couple of prior jobs this year as prior earnings were not taken into account.

If you were comfortable in PM-ing me your P45s or final payslip for each company this year and your latest payslip, I would be happy to give my opinion on how this might have come about or whether it is total nonsense (I am an accountant). You can of course de personalise them and just send the numbers, that is all I need.

If there’s is an error, it will right itself in the end, but obviously that not great for your cash flow.

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Thanks, I haven’t been given a p45 from these jobs. I wasn’t sure if that was unusual or not as prior to this year I was in the same job for 10 years

[tspill]

You can find out how your tax code has been calculated in the HMRC page. You will need to register first.
This is a great site and tells you about NI payments, State Pension, tax code etc. etc.

[Pieces]

Originally Posted by Claudette

It is deeply unusual to not get a P45.

However there is perfectly sufficient information on a final payslip. As I said, I am happy to look at your de personalised final pay slips to assess whether your new tax code is reasonable. You only need to send the information, I only earnings £ numbers, not anything to do with you.

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If it helps, I was working for an agency, the company I was working for then took me on full time through the agency so they sorted everything out with them, so I could move from agency work to the company books, I wasn’t given anything and didn’t have to fill anything in.

[Pieces]

Originally Posted by Claudette

All that matters is what you earned and what tax you paid, whether it came from an agent is irrelevant. If you wanted me to check your depersonalised payslips I am happy to give you an idea on whether it is reasonable or not.

Obviously I understand that you might prefer to leave this in the hands of HMRC and I do think it will work out ok in the end.

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thanks for your help. I’ll get them to look at it for me.

[Pussycat Doll]

Just a tip for you, the tax office opens at 8am, that’s a good time to call them, no wait and they haven’t had time to have a bad day yet!