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New tax code

Postal workers discussion forum. Discuss the day to day life in a Blue Shirt.
Gary55
EX ROYAL MAIL
Posts: 349
Joined: 29 Jun 2021, 21:02
Gender: Male
Location: london

New tax code

Post by Gary55 »

Apologies if mentioned elsewhere but I noticed I paid a bit more tax this week and then noticed my tax code had changed. I wondered if this is to do with the lump sum last week and will it correct itself thanks
Nickvilla20
Posts: 784
Joined: 13 May 2013, 07:30
Gender: Male

Re: New tax code

Post by Nickvilla20 »

That wouldn’t have changed your tax code do you have any tax arrears?
LouBarlow
Posts: 4709
Joined: 15 Oct 2007, 18:56

Re: New tax code

Post by LouBarlow »

It has nothing to do with the lump sum as otherwise we would all have changed. I have exactly the same pay as two weeks ago.
Jack1960
EX ROYAL MAIL
Posts: 333
Joined: 05 Jan 2016, 17:39
Gender: Male

Re: New tax code

Post by Jack1960 »

Gary55 wrote:
03 Oct 2023, 21:52
Apologies if mentioned elsewhere but I noticed I paid a bit more tax this week and then noticed my tax code had changed. I wondered if this is to do with the lump sum last week and will it correct itself thanks
Could be a couple of things, as someone has mentioned you may owe tax from a previous year or if you have started to take pension that will affect the code.
If you are on Government Gateway that will tell you .
mrcurve
Posts: 112
Joined: 23 Nov 2011, 19:27
Gender: Male

Re: New tax code

Post by mrcurve »

if your lucky enough to have savings, it could be the tax on the interest.
Gary55
EX ROYAL MAIL
Posts: 349
Joined: 29 Jun 2021, 21:02
Gender: Male
Location: london

Re: New tax code

Post by Gary55 »

I'm now taking my pension and pay tax on savings thanks for the information